Business News
Adobe buys Omniture for 1.8 billion dollars
Sep 15, 2009, 23:12 GMT
San Francisco - Adobe Systems is to buy internet services firm Omniture for 1.8 billion dollars, the company said Tuesday. The deal will mark the biggest acquisition by Adobe since its 4.3- billion-dollar purchase of Macromedia in 2005.
Omniture, based in Utah, makes software that allows firms to analyze the use of their internet sites and help them maximize advertising and retail opportunities. Adobe, whose key products include Photoshop and Flash, will pay 21.50 dollars a share for Omniture, a 45-per-cent premium on the company's closing price prior to the acquisition.
Adobe said that its net income in the third quarter fell 29 per cent to 136 million dollars, as revenue slipped to 697.5 million dollars from 887.3 million dollars a year ago. The results beat Wall Street expectations, and Adobe chief executive Shantanu Narayen said he was pleased with the 'solid revenue' for the quarter.
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