Adobe to acquire Semrush Holdings in $1.9 billion all-cash transaction

Davis Polk advised Semrush Holdings, Inc. in its sale to Adobe Inc. The transaction is an all-cash acquisition under which Adobe will acquire Semrush for $12.00 per share, representing a total equity value of approximately $1.9 billion. The deal is expected to close in the first half of 2026, subject to the receipt of required regulatory approvals and the satisfaction of other customary closing conditions. Headquartered in Boston, Massachusetts, Semrush is a leading online visibility management SaaS platform that enables businesses globally to run search engine optimization, advertising, content, social media and competitive research campaigns and obtain measurable results from online marketing across multiple channels. Headquartered in San Jose, California, Adobe is a global leader in digital media and digital marketing solutions whose creative, marketing and document offerings enable users — from emerging artists to global brands — to create digital content and deliver targeted, immersive experiences. Davis Polk represented client Semrush Holdings, Inc. with a team composed by: partner Lee Hochbaum and counsel Sašo Kraner, together with associates Evan McQuiston and Leah Shatkin on corporate matters; partner Michael Kaplan providing capital markets advice; partner Kyoko Takahashi Lin and associate Chloe (Tianyi) Wang advising on executive compensation; partner Matthew J. Bacal advising on intellectual property; partners Jesse Solomon and Matthew Yeowart together with associate Andrzej O’Leary advising on antitrust and competition matters; and partner William A. Curran advising on tax. Members of the Davis Polk team are based in the New York, Washington, D.C. and London offices.

Adobe to acquire Semrush Holdings in $1.9 billion all-cash transaction

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