SEMrush Holdings (NYSE:SEMR) surged 67% on Wednesday after The Wall Street Journal reported that Adobe (NASDAQ:ADBE) is on the verge of acquiring the SEO analytics company in a deal valued at roughly $1.9 billion.

Citing people familiar with the negotiations, the report said Adobe is prepared to pay $12 per share, a hefty premium compared to Semrush’s Tuesday closing price of $6.76. The transaction could be announced as early as Wednesday, though the sources warned that discussions aren’t guaranteed to reach the finish line.

The potential acquisition would assign SEMrush a valuation close to $1.9 billion, nearly doubling the company’s market value—which sat just above $1 billion before the news emerged. SEMrush specializes in tools that help companies enhance their search engine visibility, a capability that has grown increasingly vital as artificial intelligence reshapes digital advertising and online content strategies.

As highlighted in the report, neither Adobe nor SEMrush has publicly confirmed the deal. If finalized, the transaction would mark a notable outcome for SEMrush, which made its public market debut in March 2021.

SEMrush Holdings stock price

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