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Market Update : 
Adobe Offers $1.8 Billion for Omniture
Author: Staff
Last Update: 8:51 AM ET September 16 2009

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9:15 PM New York – Adobe agreed to acquire the Internet traffic analysis software and services provider Omniture to diversify its product offering and increase forestall sagging sales.

Adobe Systems agreed to acquire Ominture, Inc for $1.8 billion or $21.50 a share as the software tools company looks to diversify into markets beyond software tools and the latest acquisition will help advertising clients develop online marketing campaigns.

Omniture (OMTR) is the second acquisition by Adobe since 2005 acquisition of Macro Media.

The offer price represents 45% premium to the last thirty trading days including yesterday and Adobe in a statement said that it expects the transaction to be accretive by 2010.

Adobe (ADBE) is looking to acquire more tools and services provider as sales at its core business declined.

Separately, Adobe released its third revenues declined to $697.5 million from $887.3 million a year ago and $704.7 million in the second quarter this year.

The GAAP based operating income declined to $167.6 million from $1219.5 million in the third quarter of 2008 and compared to $161.4 million in the second quarter.

For the fourth quarter the company is targeting revenues between $690 million and $740 million and GAAP operating margin between 23% and 27%.

Omniture 2008 sales were $309 million from 5,100 customers and company delivered adjusted operating margin of 11%.

The company sells its web analytics and transaction capture software through more than 500 channel partners including WPP, Sapient, GSI Commerce and Softbank.

In early 2009, the company spent $25 million investment to train 500 WPP employees from various agencies worldwide on Omniture’s products and solutions.

Omniture revenues have steadily jumped from $20.5 million in 2004 to $295 million in 2008 but losses have surged from $1.3 million to $44.7 million in the corresponding period.

The company generated 28% revenues from international markets in 2008.

Omniture, Inc increased 1.9% to $17.33 and Adobe Systems Inc added 1.2% to $35.62.

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