Adobe shares rise on rumours of possible Microsoft acquisition

Adobe’s shares rose sharply yesterday on rumours that the company could be acquired by Microsoft.

Microsoft CEO Steve Ballmer recently held a one-hour meeting with Adobe CEO Shantanu Narayen at the latter’s offices, where the pair reportedly discussed ways to combat Apple’s dominance in the mobile phone market, according to the New York Times.

Microsoft and Adobe are competitors in the web software space, where Microsoft’s Silverlight media player competes with Adobe Flash.