1
Filed By Macromedia, Inc.
Pursuant to Rule 425 under the
Securities Act of 1933
And deemed filed pursuant to Rule 14a-6 under the
Securities Exchange Act of 1934
Subject Company: Allaire Corporation
Registration Statement File No. 333-54930
Macromedia, Inc. has prepared two slide presentations related to its acquisition
of Allaire Corporation, descriptions of which are attached as Exhibits A and B:
WHERE YOU CAN FIND ADDITIONAL INFORMATION
Investors and security holders of both Macromedia and Allaire are advised to
read the prospectus/proxy statement, which was filed with the SEC as
Registration Statement File No. 333-54930, regarding the business combination
transaction referenced in the following information because it contains
important information. Allaire mailed the prospectus/proxy statement about the
merger to its stockholders on or about February 16, 2001. Investors and security
holders may obtain a free copy of the prospectus/proxy statement as well as the
annual report, quarterly reports, current reports and other documents filed by
the companies at the Securities and Exchange Commission's web site at
http://www.sec.gov. The prospectus/proxy statement and such other documents may
also be obtained, without charge, by directing a request to either Macromedia,
Inc., 600 Townsend Street, San Francisco, California 94103, Attention: Investor
Relations, or to Allaire Corporation, 275 Grove Street, Newton, Massachusetts
02466, Attention: Investor Relations.
Macromedia and its officers and directors may be deemed to be participants in
the solicitation of proxies from Allaire's stockholders with respect to the
matters described in the prospectus/proxy statement. Information regarding such
officers and directors is included in Macromedia's proxy statement for its 2000
annual meeting of stockholders filed with the Securities and Exchange Commission
on June 30, 2000. This document is available free of charge at the Securities
and Exchange Commission's web site at http://www.sec.gov and from Macromedia.
Allaire and its officers and directors may be deemed to be participants in the
solicitation of proxies from stockholders of Allaire with respect to the matters
described in the prospectus/proxy statement. Information regarding such officers
and directors is included in the prospectus/proxy statement and Allaire's proxy
statement for its 2000 annual meeting of stockholders filed with the Securities
and Exchange Commission on April 14, 2000. This document is available free of
charge at the Securities and Exchange Commission's web site at
http://www.sec.gov and from Allaire.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Except for the historical information contained herein, matters discussed in the
following materials may be considered forward looking statements that involve
risks and uncertainties,
2
including those related to the risk of integrating newly acquired technologies
and products and unanticipated costs of such integration, failure of the
transaction to close due to the failure to obtain regulatory or other approvals,
failure of the Allaire stockholders to approve the merger, quarterly
fluctuations of operating results, customer acceptance of new products and
services and new versions of existing products, impact of competition, the risk
of delay in product development and release dates, risks of product returns, the
economic conditions in the domestic and significant international markets,
investments in new business opportunities and the other risks detailed from time
to time in Macromedia's SEC reports, including without limitation the
prospectus/proxy statement related to its business combination transaction with
Allaire Corporation, its quarterly reports on Form 10-Q and its annual report on
Form 10-K for the year ended March 31, 2000 as they may be updated or amended
with future filings. The actual results Macromedia achieves may differ
materially from any forward looking statements due to such risks and
uncertainties.
3
EXHIBIT A
Slide 1:
[Across the top of the page are 5 page views from websites designed using
Macromedia software]
[Macromedia logo in bottom right corner]
"what the web can be." immediately below Macromedia's logo.
Slide 2:
[Allaire logo; Macromedia logo]
[Macromedia logo in bottom right corner]
"what the web can be." immediately below Macromedia's logo.
Slide 3:
The Mission
We will enable Web professionals to efficiently develop Web content and
applications delivered on multiple devices.
[Macromedia logo in bottom right corner]
Slide 4:
Macromedia Today
Authoring, Server and Player Software
- - Leadership: Dreamweaver and Flash (Over 70% Marketshare); Flash Player (96%
Penetration)
- - Customers: 1.6+ Million Developers; Global Brands
- - Partners: Player Distribution (Apple, Microsoft, AOL, Netscape); Technology
(IBM, Broadvision, Nokia, WebGain, Microsoft)
[Macromedia logo in bottom right corner]
Slide 5:
Leading Market Share
[Graph entitled "Professional HTML Authoring Market" showing percentage growth
from December 1997 to December 2000 of Net Objects Fusion, Adobe GoLive and
Macromedia Dreamweaver.]
4
Source: PC Data, dollars, December 2000
[Macromedia logo in bottom right corner]
Slide 6:
Web Penetration Percent of Browsers
311 million users have the Macromedia Flash Player
181 million users have the Macromedia Shockwave Player
[Bar graph showing percentage share of Flash Player (96%), Java (84%), Windows
Media Player (62%), PDF (62%), Shockwave Player (56%), Real Player (51%) and SVG
(amount so small, no % indicated).]
Source: NPD Online Research, IDC December 2000
[Macromedia logo in bottom right corner]
Slide 7:
Allaire Today
Software for Rapid Application Development
- - Leadership: ColdFusion (Most Productive Application Development); JRun (Volume
Leader, 20,000 J2EE Servers)
- - Customers: 700,000 Developers; 10,000 Corporations
- - Partners: Allaire Alliance (2,200 Partners); JRun OEMs (Cisco, GTE, Nokia,
Phone.com, Siebel, Intel, Lucent)
[Macromedia logo in bottom right corner]
Slide 8:
The Synergies: A Perfect Fit
- -------------------------------------------------------------------------------------------------
[Macromedia logo] [Allaire logo]
- -------------------------------------------------------------------------------------------------
Designers Over 2 Million Web Developers & Programmers
[Arrow pointing toward center] Professionals [Arrow pointing toward center]
- -------------------------------------------------------------------------------------------------
Authoring Software Comprehensive Fully Server Software
[Arrow pointing toward center] Integrated Product Family [Arrow pointing toward center]
- -------------------------------------------------------------------------------------------------
Rich Content Best User Experience Application Logic
[Arrow pointing toward [Arrow pointing toward center]
- -------------------------------------------------------------------------------------------------
5
- -------------------------------------------------------------------------------------------------
center]
- -------------------------------------------------------------------------------------------------
International Distribution Cross-and Up-selling Direct Sales Force & VAR
[Arrow pointing toward center] Opportunities Channel
[Arrow pointing toward center]
- -------------------------------------------------------------------------------------------------
Strong Earnings Return to Investors Revenue Growth
[Arrow pointing toward center] [Arrow pointing toward center]
- -------------------------------------------------------------------------------------------------
[Macromedia logo in bottom right corner]
Slide 9:
The Target: The Mass Enterprise
[Large pyramid showing, from top to bottom, the breakdown of product groups from
low to high end and each group's corresponding market characteristics]
Enterprise BEA, IBM CEO, CIO, VP
Fortune 500
$100K - $10M
Mass Enterprise Dreamweaver, Flash, ColdFusion, Web Professional
JRun, HomeSite Global 2000
$300 - $5,000
Consumer Quicken.com, Microsoft Individual
FrontPage, Yahoo GeoCities Home Use
Free - $99
[Macromedia logo in bottom right corner]
Slide 10:
Enable a New Web Development Model
Enhance Sun Java and Microsoft.NET Platforms
[A flowchart using arrows to show connections between HTML, FLASH, Application
Services, Sun, BEA, IBM, JRun and .NET services. Pictures of the following
products arranged after the flowchart: video game equipment, cellular phone,
handheld computer, desktop computer and television with DVD player. ]
- - HTML and Flash clients across devices
- - Authoring tools for multiple devices
- - Application Services on top of J2EE Standard
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- - Team Product Management
[Macromedia logo in bottom right corner]
Slide 11:
3 Product Platforms
- -------------------------------------------------------------------------------------------------
HTML Rich Media Servers
- -------------------------------------------------------------------------------------------------
Dreamweaver Flash Generator
Fireworks FreeHand Project Whirlwind
UltraDev Flash Player
Director ColdFusion
HomeSite Shockwave Player JRUN
ColdFusion Spectra
& JRUN Studios
Kawa
- -------------------------------------------------------------------------------------------------
[Macromedia logo in bottom right corner]
Slide 12:
The Customers: Web Professionals
Programmers, Server Side Developers, Application Builders, Client Side
Developers, Production Artists, Rich Media Designers, Designers
[Two large overlapping ovals, a lighter colored one on the left labeled
"Allaire" and a darker colored one on the right labeled "Macromedia" surrounded
by a rectangular box dissected by 6 vertical lines.]
[Macromedia logo in bottom right corner]
Slide 13:
The Opportunity: 7 Million Users by 2003
[Line graph showing growth in one million user increments, from 1999 to 2003, of
HTML Developers and Java Programmers]
Source: IDC
[Macromedia logo in bottom right corner]
Slide 14:
The Opportunity: $6 Billion by 2004
[Bar graph showing growth in $B, from 1999 to 2004, of Internet Application
Developer Tools, Authoring Tools and Application Servers.]
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Source: IDC, Macromedia
[Macromedia logo in bottom right corner]
Slide 15:
Financial Overview
[Macromedia logo in bottom right corner]
Slide 16:
Macromedia Financials
[2 bar charts, one showing revenue, in millions, for FY99 to FY01, the other
showing EPS for FY99 to FY01.]
[Macromedia logo in bottom right corner]
Slide 17:
Allaire Financials
[2 bar charts, one showing Installed Servers, in 2,000 unit increments, for FY99
to FY00 revenue, the other showing Revenue, in millions, for FY99 to FY00.]
[Macromedia logo in bottom right corner]
Slide 18:
The Combined Company
[2 bar charts, one showing revenue, in millions, for FY00 to FY02, the other
showing EPS for FY00 to FY02.]
[Macromedia logo in bottom right corner]
Slide 19:
Long Term Business Model
Dec 00 Target
Gross Margins 91% 92%
S & M 37% 36%
R & D 24% 22%
G & A 9% 9%
8
Dec 00 Target
Operating Margin 21% 25%
[Macromedia logo in bottom right corner]
Slide 20:
Vision
We will enable Web professionals to efficiently develop Web content and
applications delivered on multiple devices.
[Allaire logo; Macromedia logo]
"what the web can be." immediately below Macromedia logo.
[Macromedia logo in bottom right corner]
Slide 21:
Download Traffic
93 Million Macromedia Flash and Shockwave Downloads in October 2000
[Bar chart showing growth of downloads from October 1997 to October 2000.]
Source: Macromedia
[Macromedia logo in bottom right corner]
Slide 22:
Macromedia Flash Standard
Already everywhere on the PC
- -------------------------------------------------------------------------------------------------
[America Online [Apple logo] [Intel logo] [Microsoft [Netscape [Linux logo]
logo] logo] logo]
- -------------------------------------------------------------------------------------------------
The next frontier it alternative devices.
- -------------------------------------------------------------------------------------------------
[webtv logo] [RealNetworks [QuickTime [@Home logo] [Java logo] [Symbian logo]
logo] logo]
- -------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------
[SEGA logo] [Liberate logo] [Palm [Microsoft
Computing Window CE
logo] logo]
- ------------------------------------------------------------------
[Macromedia logo in bottom right corner]
Slide 23:
Macromedia Flash Advertising Alliance
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- -------------------------------------------------------------------------------------------------
Agencies Publishers & Interactive Services
Fallon Worldwide AOL
Freestyle Interactive CNET
Goody, Silverstein & Partners MSN
Lot 21 NBCi
Tbwas\Chiat\Day NY Shockwave.com
Trial DDB ZD Net
- -------------------------------------------------------------------------------------------------
AD Serving Networks Technology Vendors
24/7 Media BlueStreak
Double Click Excite@Home.s.Enliven
Engage
L90 Radical Mall
TargetNet Solbright
UnIcast
NetRatings
- -------------------------------------------------------------------------------------------------
Advertisers
MGM
New Line Cinema
- -------------------------------------------------------------------------------------------------
[Macromedia logo in bottom right corner]
Slide 24:
Macromedia Flash Advertising Alliance
- -------------------------------------------------------------------------------------------------
[Lot 21 logo] [MGM logo] [24/7 logo] [CNET.com logo] [Bluestreak logo]
- -------------------------------------------------------------------------------------------------
[Fallon Worldwide [New Line Cinema [NBCi logo] [Unicast logo]
logo] logo]
- -------------------------------------------------------------------------------------------------
[Tribal DDB [L90 logo] [ZDNet logo] [eNLIVEN logo]
Worldwide logo]
- -------------------------------------------------------------------------------------------------
[Goodby, [TargetNet logo] [Solbright logo]
Silverstein &
Partners logo]
- -------------------------------------------------------------------------------------------------
[Tbwa/chiat/day [DoubleClick [America Online [Radical
logo] logo] logo] mall.com logo]
- -------------------------------------------------------------------------------------------------
[Freestyle [Engage logo] [MSN logo] [ePod.com logo]
Interactive logo]
- -------------------------------------------------------------------------------------------------
[Macromedia logo in bottom right corner]
Slide 25:
10
Download Traffic
240 Million Macromedia Flash and Shockwave Downloads in December quarter
[Bar chart showing growth of downloads from October 1997 to October 2000.]
Source: Macromedia
[Macromedia logo in bottom right corner]
Slide 26:
Enable a New Web Development Model
Enhance Sun Java and Microsoft.NET
HTML and Flash clients across devices
Authoring tools for multiple devices
Team production management
Application Services on top of J2EE Standard
[Pictures of the following products arranged in an arch: video game equipment,
cellular phone, handheld computer, desktop computer and television with DVD
player. Below the arch, a flowchart using arrows to show connections between
HTML, FLASH, Application Services, BEA, IBM, JRun and .NET services.]
[Macromedia logo in bottom right corner]
Slide 27:
Deal Overview
Value:
- - Transaction value: $360 Million
- - Fully diluted at MACR closing price of $44 on 1/16/01
- - 49% premium at announce
- - 1.7 times ALLR revenue CY01 (excluding cash)
Terms:
- - 0.2 shares MACR + $3 cash for each share of ALLR
- - Purchase accounting
- - Close expected calendar Q2
[Macromedia logo in bottom right corner]
11
Slide 28:
Management
[Macromedia logo] [Allaire logo]
Rob Burgess David Orfao
Betsey Nelson David Gerth
Kevin Lynch Jeremy Allaire
Brian Allum Tim Yeaton
David Mendels Patrick Morely
Norm Meyrowitz
[Macromedia logo in bottom right corner]
Slide 29:
Competition
[Chart showing Macromedia and Allaire's competitors (IBM, Microsoft, Sun, Adobe,
BEA/WebGain, Vignette, ATG) across different categories (Programmers,
Server-Side Developers, Client-Side Developers, Designers, Prosumers, Players,
Tools, Servers, Production Management.]
[Macromedia logo in bottom right corner]
Slide 30:
The Trends
- -------------------------------------------------------------------------------------------------
Today Tomorrow
- -------------------------------------------------------------------------------------------------
Designers and Developers Teams of Web Professionals
- -------------------------------------------------------------------------------------------------
HTML and Flash Clients on PCs HTML and Flash Clients on Multiple Devices
- -------------------------------------------------------------------------------------------------
Application Servers Application Servers and Application Services
- -------------------------------------------------------------------------------------------------
Focus on Building a Website Focus on Building a Great User Experience
- -------------------------------------------------------------------------------------------------
[Macromedia logo in bottom right corner]
Slide 31:
Strategic Rationale for Acquisition
- Creates the leader in Web development software
- Builds the dominant position with Web professionals in the Mass
Enterprise Market
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- Powerful business synergies
A contiguous set of customer bases
Channel synergy
- Strong sustainable growth and earnings
- Cultural fit and a shared vision
- Industry leading technical and management teams
[Macromedia logo in bottom right corner]
Slide 32:
Dreamweaver Platform
- Leading professional Web authoring
- Extensible platform
- Enterprise standard
Dreamweaver
Dreamweaver UltraDev
Fireworks
[Macromedia logo in bottom right corner]
Slide 33:
Flash Platform
- Leading Web vector standard
- Open Flash format (.swf)
- Delivers best user experience
Flash
Freehand
Generator Developer Edition
[Macromedia logo in bottom right corner]
13
EXHIBIT B
Slide 1:
[Macromedia logo centered]
"what the web can be." immediately below Macromedia's logo.
[Across bottom of the page are 6 page views from websites designed using
Macromedia software.]
Slide 2:
Macromedia and Allaire to Merge.
[Allaire logo; Macromedia logo]
"what the web can be." immediately below Macromedia's logo.
[Macromedia logo in bottom right corner]
Slide 3:
The Dream
We will enable web professionals to efficiently develop web content and
applications delivered on multiple devices
[Macromedia logo in bottom right corner]
Slide 4:
Macromedia Today
- - Leadership: Dreamweaver and Flash (Over 70% Marketshare); Flash Player (96%
Penetration)
- - Customers: 1.6+ Million Developers; Global Brands
- - Products: Authoring, Server and Player Software
- - Partners: Player Distribution (Apple, Microsoft, AOL, Netscape); Technology
(IBM, Broadvision, Nokia, WebGain, Microsoft)
[Macromedia logo in bottom right corner]
Slide 5:
Allaire Today
- - Leadership: ColdFusion (Most Productive Application Development); JRun (Volume
Leader, 20,000 J2EE Servers)
- - Customers: 700,000 Developers; 10,000 Corporations
14
- - Products: Software for Rapid Application Development
- - Partners: Allaire Alliance (2,200 Partners); JRun OEMs (Cisco, GTE, Nokia)
[Macromedia logo in bottom right corner]
Slide 6:
The Synergies: A Perfect Fit
- -------------------------------------------------------------------------------------------------
Designers Over 2 Million Web Developers & Programmers
[Arrow pointing toward center] Professionals [Arrow pointing toward center]
- -------------------------------------------------------------------------------------------------
Authoring Software Comprehensive Fully Server Software
[Arrow pointing toward center] Integrated Product Family [Arrow pointing toward center]
- -------------------------------------------------------------------------------------------------
Rich Content Best User Experience Application Logic
[Arrow pointing toward center] [Arrow pointing toward center]
- -------------------------------------------------------------------------------------------------
Direct Sales Force Cross-and Up-selling International Distribution &
[Arrow pointing toward center] Opportunities VAR Channel
[Arrow pointing toward center]
- -------------------------------------------------------------------------------------------------
Strong Earnings Return to Investors Revenue Growth
[Arrow pointing toward center] [Arrow pointing toward center]
- -------------------------------------------------------------------------------------------------
[Macromedia logo in bottom right corner]
Slide 7:
Enable a New Web Development Model
Enhance Sun Java and Microsoft.NET
HTML and Flash clients across devices
Authoring tools for multiple devices
Team production management
Application Services on top of J2EE Standard
[Pictures of the following products arranged in an arch: video game equipment,
cellular phone, handheld computer, desktop computer and television with DVD
player. Below the arch, a flowchart using arrows to show connections between
HTML, FLASH, Application Services, BEA, IBM, JRun and .NET services.]
[Macromedia logo in bottom right corner]
15
Slide 8:
3 Product Platforms
- ---------------------------------------------------------
HTML
- ---------------------------------------------------------
Dreamweaver UltraDev ColdFusion Kawa
Fireworks HomeSite & JRUN
Studios
- ---------------------------------------------------------
Rich Media
- ---------------------------------------------------------
Flash Flash Player Shockwave Player
FreeHand Director
- ---------------------------------------------------------
Servers
- ---------------------------------------------------------
ColdFusion Project Whirlwind Generator
JRUN
Spectra
- ---------------------------------------------------------
[Macromedia logo in bottom right corner]
Slide 9:
The Customers: The Web Professionals
Programmers, Server Side Developers, Application Builders, Client Side
Developers, Production Artists, Rich Media Designers, Designers
[Plain text stating "Allaire Developers" to the left of one large oval
containing the text "Macromedia Designers"; entire page dissected by 8 vertical
lines.]
[Macromedia logo in bottom right corner]
Slide 10:
The Opportunity: 14.2 Million Web Professionals by 2003
[Line graph showing growth in 2,000,000 person increments, from 1999 to 2003, of
HTML Developers and Java Programmers]
[Macromedia logo in bottom right corner]
Slide 11:
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The Opportunity: $17B by 2004
[Bar graph showing growth in $B, from 1999 to 2004, of Application Servers,
Internet Application Developer Tools and Authoring Tools.
[Macromedia logo in bottom right corner]
Slide 12:
The Target: The Mass Enterprise
[Large pyramid showing, from top to bottom, the breakdown of product groups from
low to high end and each group's corresponding market characteristics]
Enterprise BEA, IBM CEO, CIO, VP
Fortune 500
$100K - $10M
Mass Enterprise Dreamweaver, Flash, ColdFusion, Web Professional
JRun, HomeSite Global 2000
$300 - $5,000
Consumer Quicken.com, Microsoft Individual
FrontPage, Yahoo GeoCities Home Use
Free - $99
[Macromedia logo in bottom right corner]
Slide 13:
Financial Overview
Slide 14:
Financial Credibility: MACR Software Business
[2 bar charts, one showing revenue, in millions, for FY99 to FY01, the other
showing EPS for FY99 to FY01.]
[Macromedia logo in bottom right corner]
Slide 15:
Financial Credibility: Allaire Business
[2 bar charts, one showing Installed Servers, in 2,000 unit increments, for FY99
to FY00, the other showing Revenue, in millions, for FY99 to FY00.]
[Macromedia logo in bottom right corner]
17
Slide 16:
The New Company
[2 bar charts, one showing Revenue, in millions, for FY00 to FY02, the other
showing EPS for FY00 to FY02.]
[Macromedia logo in bottom right corner]
Slide 17:
Vision
We will enable web professionals to efficiently develop web content and
applications delivered on multiple devices
[Allaire logo; Macromedia logo]
"what the web can be." immediately below Macromedia logo.
[Macromedia logo in bottom right corner]