Adobe Systems Inc's stock skyrocketed 17 per cent on Thursday after The New York Times reported that Adobe might become an acquisition target for Microsoft.
Microsoft Chief Executive Steve Ballmer reportedly met secretly with Adobe CEO Shantanu Narayen at Adobe's San Francisco offices "recently."
The two discussed Apple's dominance in mobile phones and considered several options to counteract that, including Microsoft acquiring Adobe.
Adobe and Microsoft declined to comment.
Such a deal could be worth $15 billion or more based on Adobe's current market value.