Adobe Systems has said its $1.8 billion acquisition of Omniture will allow it to offer Web-traffic-monitoring tools to its customers, who often build their sites with other Adobe software products. Adobe chief executive Shantanu Narayen said customers have been demanding tools to monitor traffic to their sites, in part to gauge and improve the return on their investments in Adobe software like Acrobat and Flash Professional, reported the Wall Street Journal. “Clearly, we believe this enables us to participate in a large, growing market opportunity and become even more mission critical to our customers,” Narayen said. The company also released third-quarter earnings that narrowly beat Wall Street expectations. Adobe surprised investors and traders earlier in the day when it said it would pay a 24 percent premium to Tuesday’s closing price to buy Omniture. Shares of Orem, Utah-based Omniture closed regular trading at $17.33, but shot well above the offer price of $21.50 after being halted. They settled after-hours trading at $21.67. Adobe shares closed 1.2 percent higher at $35.62. Adobe said the acquisition won’t impact the release of a critical new Adobe product, the fifth iteration of the company’s Creative Suite software used in page layout and design.
Adobe Says $1.8B Omniture Buy Will Meet Customer Needs
Adobe chief executive Shantanu Narayen said customers have been demanding tools to monitor traffic to their sites, in part to gauge and improve the return on their investments in Adobe software like Acrobat and Flash Professional.
September 16, 2009