Adobe Acquires Omniture for $1.8B

Adobe Systems (NASDAQ:ADBE) announced today the  acquisition of Web consultant Omniture, Inc. (NASDAQ:OMTR), in a transaction valued at approximately $1.8 billion.  Under the terms of the agreement, Adobe will commence a tender offer to acquire all of the outstanding common stock of Omniture for $21.50 per share in cash.

San Jose, Calif.-based Adobe, which makes software such as Flash, Photoshop and Acrobat Reader, said the PPS bid for Omniture values the company at a 45% premium to its average closing price for the last 30 trading days, and a premium of 24% over Omniture’s closing stock price Tuesday.

“This is a game changer for both Adobe and our customers”, Adobe CEO Shantanu Narayen said in a statement. “We will enable advertisers, media companies and e-tailers to realize the full value of their digital assets.”

The companies said Omniture will become a new business unit within Adobe, which will be led by Omniture CEO Josh James.

According to Adobe, the acquisition would add to its adjusted earnings in fiscal 2010, and the combination of the two companies will further increase the value Adobe delivers to customers.

The announcement came as Adobe said it earned $136 million, or 26 cents per share, in the fiscal 3Q that ended in August, down nearly 30% on a y/y basis.

Adobe’s shares took a hit in AH trading, falling $1.42, or 3.99%, to $34.20. Omniture’s shares, meanwhile, spiked $4.36, or 25.52%, to $21.74 AH.

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