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Adobe Announces Acquisition of Semrush

Adobe and Semrush said they signed a definitive agreement for an all-cash acquisition. Adobe will purchase Semrush for $12 per share, valuing the deal at about $1.9 billion.

The companies framed the move as a logical expansion of Adobe’s marketing cloud. Moreover, they positioned it as a bet on how brands appear across the web and AI-driven surfaces.

In the announcement, the parties called it “an all-cash transaction for $12.00 per share,” “representing a total equity value of approximately $1.9 billion.” Those terms set the foundation for the rest of the deal.

Deal Terms and Valuation

The acquirer is paying $12 per share in cash. That per-share price implies a total equity value near $1.9 billion.

Semrush’s product portfolio spans SEO, competitive intelligence, and paid media tools. Therefore, Adobe is buying established capabilities and a large data asset.

Advisers were also named. Notably, Centerview advised Semrush financially, while Wachtell advised Adobe legally, with Davis Polk advising Semrush.

Board Approvals and Closing Timeline

Both boards have approved the transaction. The companies expect the deal to close in the first half of 2026, subject to regulatory review and Semrush stockholder approval.

Adobe has secured commitments to vote in favor from founders and other holders. Those agreements represent over 75% of the voting power of Semrush, according to the announcement.

The companies reiterated standard conditions. However, they emphasized confidence in the path to close given broad stockholder support.

Strategic Rationale: Enhancing Brand and AI Capabilities

The strategic pitch is about visibility. Together, Adobe and Semrush say they can give marketers a holistic view of brand performance across owned channels, traditional search, and AI-driven experiences.

Brand visibility is shifting fast as generative AI answers more queries. Consequently, marketers want signals that capture how their brands surface in large language models and chat systems.

Semrush brings search data, GEO/SEO expertise, and competitive insights. Meanwhile, Adobe brings activation, measurement, and creative workflows. As a result, the companies argue they can “deliver a comprehensive solution that gives marketers a holistic understanding of how their brands appear across, the wider web.”

Executives also underscored the AI angle. One executive noted, “Brand visibility is being reshaped by generative AI.” That point aligns with Adobe’s expansion of AI-native marketing tools.

Market Reaction and Premium

The offer implies a hefty premium to Semrush’s previous close. According to available reports, it equals “a premium of around 77.5% to its stock’s last closing price.”

Semrush shares surged after the news. Notably, shares “jumped 74% to $11.79,” reflecting investor expectations for the deal and the premium.

Broader market commentary emphasized Adobe’s AI strategy. Furthermore, observers linked the move to intensifying competition across marketing and analytics stacks.

Background and Pre-Announcement Reports

Before the announcement, reporting signaled a deal was near. The Wall Street Journal wrote that Adobe was close to acquiring Semrush for approximately $1.9 billion at $12 per share.

That reporting framed the transaction as a fit with Adobe’s AI-enabled marketing suite. It also noted the broader regulatory context following Adobe’s abandoned Figma deal.

What to Watch Next

Regulatory review will shape the timeline. Nevertheless, with more than 75% voting power committed, stockholder approval appears likely.

Integration plans will matter. In particular, customers will watch how Semrush’s data and tools connect with Adobe’s analytics, content, and activation products.

Finally, AI search and chat experiences are evolving quickly. Therefore, the combination’s success may hinge on how fast it can measure and influence brand visibility in those environments.

The Bottom Line

Adobe is paying cash for Semrush at $12 per share. The deal underscores a strategic push to link search intelligence with AI-first marketing.

If approvals arrive on schedule, closing could happen in the first half of 2026. Until then, both companies will work through the regulatory process and prepare integration plans.