Adobe Photoshop May Possibly Become Microsoft Photoshop

The Internet was abuzz yesterday due to a secret meeting at Adobe’s offices between the head honchos of Microsoft (Steve Ballmer) and Adobe (Shantanu Narayen). The New York Times reports:

The meeting, which lasted more than an hour, covered a number of topics, but one of the main thrusts of the discussion was Apple and its control of the mobile phone market and how the two companies could team up in the battle against Apple. A possible acquisition of Adobe by Microsoft were among the options.

Whoa. Acquisition. That’s a pretty deal. So big, in fact, that the rumor drove Adobe’s stock price up 11.5% yesterday, adding about $1.5 billion to their market cap.

In addition to Photoshop, the acquisition would also net Adobe Flash (formerly Macromedia Flash), possibly turning it into Microsoft Flash. Now that would be pretty mind-boggling.

What do you think of the possible acquisition? Would Microsoft be a good company to develop Photoshop?