Adobe buying Omniture for $1.8 billion

Adobe Systems went shopping on Tuesday. And it came home with a pricey find.

The software company said it is buying Web analytics firm Omniture for about $1.8 billion in an effort to make itself more competitive in the world of online commerce.

The maker Photoshop and Acrobat products said it will offer Omniture $21.50 per share in cash. That's a 24% premium to Omniture's Tuesday closing price of $17.32 per share. The deal is expected to close in the fourth quarter of Adobe's fiscal year.

Read Full Article from CNNMoney.com

- Posted: 2009-09-16 12:34:38

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