Macromedia has announced plans to establish shockwave.com, its recently formed online consumer entertainment business, as a stand-alone, independently capitalised company.
The move is intended to increase the performance of each division, Rob Burgess, Macromedia's chairman and chief executive officer, said in a statement, noting that Macromedia is a software company and shockwave.com an entertainment firm.
Since its launch on Aug. 2 this year, shockwave.com has registered more than 3 million users, making it the number three animation site and number four game site on the Web, according to Macromedia.
Earlier today, Macromedia announced plans to merge with online marketing software provider Andromedia.
Macromedia's shares closed at $US51.44 on the Nasdaq stock market, down $3.53 from yesterday's close.
Macromedia, in San Francisco, can be reached at +1-415-252-2000 or at http://www.macromedia.com. Andromedia, also in San Francisco, can be reached at +1-415-365-6700 or at http://www.andromedia.com.