Adobe acquires Semrush for $1.9 billion to expand brand visibility tools

Adobe struck a definitive agreement on November 19, 2025, to acquire Semrush Holdings for $1.9 billion in all cash, paying $12 per share for the search engine optimization platform. The acquisition marks Adobe's effort to address growing concerns among marketers about brand visibility as consumers increasingly turn to large language models for information instead of traditional search engines.

According to Adobe's announcement, the deal combines Adobe's customer experience orchestration capabilities with Semrush's data-driven generative engine optimization and search engine optimization solutions. Semrush developed a reputation for helping businesses manage brand visibility and audience reach through its SEO and GEO technologies.

The $12 per share price represents a significant premium over Semrush's $6.76 closing price on November 18, 2025. Semrush had maintained a market value slightly above $1 billion before the acquisition announcement. The company went public on the New York Stock Exchange in 2021.

For Adobe, which carries a market value exceeding $135 billion, the transaction represents a relatively modest acquisition. However, the deal targets a specific strategic gap in Adobe's product portfolio as artificial intelligence reshapes how consumers discover brands and products online.

AI search transformation drives strategic rationale

"Brand visibility is being reshaped by generative AI, and brands that don't embrace this new opportunity risk losing relevance and revenue," stated Anil Chakravarthy, president of Adobe's Digital Experience Business, according to the company's November 19 announcement. The acquisition positions Adobe to help marketers understand how their brands appear across owned channels, large language models, traditional search engines, and the wider web.

Brand visibility emerged as a critical concern for chief marketing officers during 2025. Adobe Analytics data showed that traffic from generative AI sources to United States retail sites increased by 1,200% year-over-year in October. This dramatic shift demonstrates consumers' growing reliance on AI platforms like ChatGPT, Google's Gemini, and Perplexity for recommendations and purchase decisions.

Semrush addresses these changes through its generative engine optimization capabilities developed alongside traditional SEO expertise accumulated over more than ten years. "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," stated Bill Wagner, chief executive officer of Semrush, in the November 19 announcement.

The acquisition brings together complementary technologies. Adobe provides customer experience management through products including Adobe Experience Manager, Adobe Analytics, and the newly introduced Adobe Brand Concierge. Semrush contributes specialized expertise in optimizing content for both traditional search engines and emerging AI platforms that synthesize information from multiple sources.

Enterprise customer growth demonstrates market demand

Semrush reported 33% year-over-year annual recurring revenue growth in its enterprise customer segment during its most recent quarter, according to the November 19 announcement. Major clients include Amazon, JPMorganChase, and TikTok. These relationships demonstrate Semrush's ability to serve sophisticated marketing organizations requiring comprehensive brand visibility solutions.

The platform's approach differs from traditional SEO tools by addressing how brands appear in AI-generated responses. As large language models increasingly rely on traditional search engine results, content optimization strategies must account for how AI systems synthesize and cite information. Semrush developed methodologies for ensuring brands maintain visibility as AI platforms become primary discovery channels.

Adobe currently enables 99% of the Fortune 100 companies to use artificial intelligence to transform their operations, according to the announcement. The addition of Semrush's capabilities allows Adobe to address a growing need among these enterprise customers for comprehensive brand visibility management across traditional and AI-powered discovery channels.

The transaction reflects broader industry trends toward marketing automation and AI-powered solutions. McKinsey data indicates $1.1 billion in equity investment flowed into agentic AI during 2024, with job postings related to this technology increasing 985% from 2023 to 2024.

Transaction details and regulatory considerations

The deal requires approval from Semrush stockholders and regulatory authorities. Adobe secured commitments from Semrush's founders and other stockholders representing over 75% of the company's voting power to vote in favor of the transaction. The boards of directors of both Adobe and Semrush approved the acquisition.

Wachtell, Lipton, Rosen & Katz serves as legal advisor to Adobe. Centerview Partners acts as exclusive financial advisor to Semrush, with Davis Polk & Wardwell providing legal counsel. The companies expect to close the transaction during the first half of 2026, subject to standard closing conditions.

Adobe attempted a significantly larger acquisition in 2022, proposing to purchase collaboration-software company Figma for approximately $20 billion. That transaction would have represented Adobe's biggest deal ever. The Figma acquisition collapsed in December 2023 after a United Kingdom regulator warned that it would likely harm innovation. Adobe paid Figma a $1 billion termination fee when the companies abandoned the deal.

The Semrush transaction faces less obvious regulatory hurdles given the different market dynamics. The deal combines Adobe's customer experience platform with Semrush's specialized search optimization tools rather than consolidating direct competitors.

Strategic positioning in changing search landscape

Adobe's stock declined more than 20% during 2025 through November, according to the Wall Street Journal. Investors have waited to see whether Adobe can establish itself as an artificial intelligence powerhouse while competing against emerging AI-native platforms and established technology giants expanding into enterprise marketing tools.

Semrush shares also experienced pressure during 2025 amid broader technology stock selloffs. The company emphasized its AI adoption, particularly around search optimization. Semrush recently unveiled tools that help marketers boost and measure performance with both traditional SEO and AI engines including ChatGPT, Gemini, and Perplexity.

The acquisition allows Adobe to compete more effectively as search optimization practices adapt to AI platforms. Research published throughout 2025 demonstrated that traditional SEO skills remain relevant as AI platforms rely on search engine results for source material. However, marketers must expand their approaches to ensure visibility when AI systems synthesize information from multiple sources.

Adobe raised its fiscal-year outlook for the second time during September 2025, indicating that spending on artificial intelligence was starting to generate returns. The company reported that customers were opting into more premium offerings to access new AI capabilities. The Semrush acquisition extends this AI investment strategy into search optimization and brand visibility.

"This is a natural way for us to keep growing in a space that's very important to our existing customers," stated Anil Chakravarthy in an interview with the Wall Street Journal. "Every chief marketing officer today is thinking about how they're showing up in ChatGPT [and other platforms]."

The transaction timing coincides with intensifying industry focus on how AI agents mediate consumer interactions. As autonomous agents handle more shopping and research tasks on behalf of users, traditional advertising models relying on visual impressions and clicks face structural challenges. Adobe's acquisition of Semrush addresses these shifts by providing marketers with tools to optimize brand visibility across both traditional and AI-mediated discovery channels.

Timeline

• 2021 – Semrush completes initial public offering on New York Stock Exchange
• 2022 – Adobe attempts $20 billion acquisition of Figma, its largest proposed deal
• December 2023 – Adobe-Figma deal collapses due to regulatory concerns
• February 2025 – Adobe launches data collaboration tool for privacy-first advertising
• September 2025 – Adobe unveils AI agents for enterprise customer experience management
• October 2025 – Adobe releases AI agents targeting B2B sales and marketing workflows
• October 2025 – Adobe Analytics data shows 1,200% year-over-year increase in traffic from generative AI sources
• November 18, 2025 – Semrush shares close at $6.76 with market value slightly over $1 billion
• November 19, 2025 – Adobe announces $1.9 billion acquisition of Semrush at $12 per share

Summary

Who: Adobe, the $135 billion enterprise software company, agreed to acquire Semrush Holdings, a publicly traded search engine optimization platform with clients including Amazon, JPMorganChase, and TikTok. Anil Chakravarthy, president of Adobe's Digital Experience Business, and Bill Wagner, chief executive officer of Semrush, announced the transaction.

What: Adobe will pay $12 per share in all cash to acquire Semrush, valuing the transaction at approximately $1.9 billion. The deal combines Adobe's customer experience orchestration tools with Semrush's search engine optimization and generative engine optimization capabilities to help marketers manage brand visibility across traditional search engines and AI platforms.

When: The companies announced the definitive agreement on November 19, 2025. They expect to close the transaction during the first half of 2026, pending stockholder approval and regulatory clearance.

Where: The acquisition affects global marketing operations as brands increasingly compete for visibility across large language models including ChatGPT, Google's Gemini, and Perplexity. Semrush, headquartered in Boston, will integrate into Adobe's Digital Experience Business, which serves 99% of Fortune 100 companies.

Why: Brand visibility faces fundamental transformation as consumers shift from traditional search engines to AI platforms for information and purchase decisions. Adobe Analytics data showed traffic from generative AI sources to United States retail sites increased 1,200% year-over-year in October 2025, creating urgent demand among chief marketing officers for tools that optimize how brands appear in AI-generated responses alongside traditional search results.