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Macromedia is not just 'flash'
Macromedia care about software design, and there are not many companies that do.
The software industry is maturing and customers are beginning to care about well designed products. A few months ago, Macromedia looked like an acquisition target for Adobe, perhaps today's 20% surge in value will help propel them out of Adobe's reach.
Forbes.com: Macromedia shares up 20 pct on analyst upgrade