(Reuters) -Photoshop maker Adobe is nearing a $1.9 billion deal to acquire software platform Semrush ( SEMR ), the Wall Street Journal reported on Wednesday, citing people familiar with the matter.

Adobe is set to pay $12 per share for the company, according to the report. That represents a premium of around 77.5% to Semrush's ( SEMR ) closing price on Tuesday. Semrush ( SEMR ) shares jumped 69% in premarket trading following the report.

A deal could be finalized as soon as Wednesday, the report said, adding that the talks could still fall apart.

Adobe and Semrush ( SEMR ) did not immediately respond to Reuters' requests for comment.