Google shares rise due to Adobe partnership
22/06/2006
Those looking to buy shares in internet search engine Google will have to pay over $400 for the first time since the world stock-market began fluctuating in May.
Google's share prices rose over 3.9 per cent to $402.50 at close on Nasdaq yesterday, in light of the company's new deal with software distributors Adobe.
An announcement was made yesterday by Adobe indicating that it had made a financial arrangement with the search engine to distribute its IT solutions.
As a result, Google search software will become available to all users of Adobe's Shockwave multimedia playback software.
A statement on Google's website said: "We're excited to partner with Adobe to make these features available to their users and look forward to finding other ways to work together."
Adobe's president and chief operating officer, Shantanu Narayen, commented on the deal, saying: "The popularity and reach of Adobe technology gives Google even broader exposure to a growing base of consumers."
Shares in Yahoo and Microsoft, Google's main rivals, remained steady despite the news of the new collaboration.
Starting today, the Google Toolbar will be offered to all Adobe customers as a free download.
According to Google, this new link-up will be "a great way to take Google search with you anywhere on the web".
Google's share prices rose over 3.9 per cent to $402.50 at close on Nasdaq yesterday, in light of the company's new deal with software distributors Adobe.
An announcement was made yesterday by Adobe indicating that it had made a financial arrangement with the search engine to distribute its IT solutions.
As a result, Google search software will become available to all users of Adobe's Shockwave multimedia playback software.
A statement on Google's website said: "We're excited to partner with Adobe to make these features available to their users and look forward to finding other ways to work together."
Adobe's president and chief operating officer, Shantanu Narayen, commented on the deal, saying: "The popularity and reach of Adobe technology gives Google even broader exposure to a growing base of consumers."
Shares in Yahoo and Microsoft, Google's main rivals, remained steady despite the news of the new collaboration.
Starting today, the Google Toolbar will be offered to all Adobe customers as a free download.
According to Google, this new link-up will be "a great way to take Google search with you anywhere on the web".
