BREAKING: Adobe To Acquire Omniture For $1.8 Billion
Adobe Systems Incorporated (NASDAQ:ADBE) announced today that have reached a deal to buy out Omniture, Inc. (NASDAQ:OMTR) for $1.8 billion. That is a 45% premium on Omniture’s closing price over the last 30 days. Omniture started in 1996 and has about 1,200 employees. The company made about $300 million in revenue as of December 12.
Shantanu Narayen, the CEO of Adobe said that this acquisition will be a “game changer” for the company. The acquisition indicates that Adobe has a major interest in providing analytics services for enterprises. “Adobe customers are looking to us for solutions to deliver engaging experiences and more effectively monetize their content and applications online,” stated Narayen said in a press release.
The deal is expected to close during Adobe’s fourth quarter of their fiscal year. Omniture will become a division of Adobe. Josh James, the current CEO of Omniture will continue to run the company as an Adobe SVP.
Omniture started in 1996 and acquired four companies for over $511 million. These four companies included Mercado ($6.5 million), Offermatica ($65 million), Touch Clarity ($51.5 million), and Visual Sciences (formerly known as WebSideStory-$394 million).