Adobe said on Wednesday that it has agreed to acquire search engine optimization company Semrush for about $1.9 billion in cash, as the Photoshop maker seeks to augment its suite of marketing offerings.

In a statement, Adobe said it would offer $12 per share for Semrush, almost double the latter’s closing price of $6.89 on Tuesday, before news of the deal. Semrush had a market capitalization of about $1 billion as of Tuesday’s close.

By acquiring Semrush, Adobe is betting that companies will choose to invest in optimizing their content and webpages to be more visible to AI tools, as people increasingly use AI chatbots, agents, and AI browsers to do everything from getting the news and finding recipes to shopping and booking their travel. This is a fresh, big market for existing searc

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