You've likely never heard of Omniture, because it's a web analytics firm, meaning it doesn't produce anything that most consumers care about. However, those metrics that Omniture does produce are of key interest to many companies, such as, apparently, Adobe.
Adobe and Omniture will soon be BFFs, as Adobe has offered $1.8 billion for the web analytics firm. This amounts to for $21.50 per share, which ia approximately a 45% premium over the stock's average closing price over the last 30 days.
It's hard to see where Omniture fits into Adobe's future plans. Shantanu Narayen, president and chief executive officer of Adobe called the move a game changer.
"This is a game changer for both Adobe and our customers. We will enable advertisers, media companies and e-tailers to realize the full value of their digital assets."
It's still hard to see what the game is, but still ...
According to Adobe, Omniture will become a new Adobe business unit. Current Omniture CEO Josh James will run the unit as a senior VP, reporting to Adobe CEO Shantanu Narayen. Adobe expects the deal to close in its fiscal Q4, ending in November. The company also stated that it believes the acquisition of Omniture will be accretive to Adobe’s non-GAAP earnings in fiscal year 2010.
Adobe stock was down about 4.5% to $34 in after-hours trading. At the same time, Omniture was up about 25% to $21.70 in after hours trading.
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