Adobe Systems Inc on Wednesday said it will acquire Omniture, an online business optimisation software provider, for about USD 1.8 billion.
In a joint statement, the two companies said they had entered into a definitive agreement for acquisition of Omniture by Adobe in a transaction valued at USD 1.8 billion (around Rs 8,600 crore).
That represents a 45 per cent premium to Omniture’s average closing price for the last 30 days.
Under the deal, software maker Adobe would commence a tender offer to acquire all the outstanding common stock of Omniture for USD 21.50 per share in cash. The deal is expected to close in the fourth quarter of Adobe’s 2009 fiscal year and is subject to government approvals.
As part of the expected integration of the companies, Omniture would become a new business unit within Adobe.
Omniture CEO Josh James would join Adobe as senior vice president of the new business unit, reporting to Adobe’s president and CEO Shantanu Narayen.
“Adobe customers are looking to us for solutions to deliver engaging experiences and more effectively monetise their content and application online.This is a game changer for both Adobe and our customers.We will enable advertisers, media companies and e-tailers to realise the full value of their digital assets,” Mr. Narayen said.
