Adobe set to acquire Semrush for $1.9 billion

Adobe and Semrush on Monday announced a definitive agreement under which the software company will acquire the platform for $12 per share in an all-cash transaction valued at about $1.9 billion. The deal brings the platform’s generative engine optimisation (GEO) and search engine optimisation (SEO) tools into Adobe’s suite of AI-driven marketing and brand visibility products.

The acquisition has been approved by the boards of both companies and is expected to close in the first half of 2026, subject to regulatory approvals and a vote by Semrush shareholders. The software company has secured commitments from the platform founders and other shareholders representing more than 75% of the company’s voting power to support the deal.

The software company, whose enterprise technologies are used by 99% of the Fortune 100, said the acquisition comes as brand visibility becomes a top priority for chief marketing officers. The shift follows changing consumer habits, where users increasingly rely on large language models such as ChatGPT and Gemini for recommendations, information and purchase decisions.

In its most recent quarter, the platform reported 33% year-over-year annual recurring revenue growth in its enterprise segment, serving customers including Amazon, JPMorgan Chase and TikTok.

Speaking on the development, Anil Chakravarthy, president of Adobe’s Digital Experience Business, said, “Brand visibility is being reshaped by generative AI, and brands that don’t embrace this new opportunity risk losing relevance and revenue. With Semrush, we’re unlocking GEO for marketers as a new growth channel alongside their SEO, driving more visibility, customer engagement and conversions across the ecosystem.”

Bill Wagner, chief executive officer of Semrush, said, “Adobe is an industry leader in helping marketers create personalized customer experiences at scale. With the advent of LLMs and AI-driven search, brands need to understand where and how their customers are engaging in these new channels. This combination provides marketers more insights and capabilities to increase their discoverability across today’s evolving digital landscape.”

The software company cited new Adobe Analytics data showing that traffic from generative AI sources to U.S. retail sites grew 1,200% year-over-year in October, underscoring the rising importance of AI-driven search.

Wachtell, Lipton, Rosen & Katz is serving as legal advisor to Adobe. The platform is being advised by Centerview Partners LLC, with Davis Polk & Wardwell as legal counsel.