Adobe buys web analytics firm for $1.8 bln
Acquisition of Omniture will help “revolutionize the way the world engages with ideas and information”
Adobe has swooped in on web analytics and business software optimisation firm Omniture in an acquisition worth $1.8 billion.
Adobe claims the acquisition will “further its mission to revolutionize the way the world engages with ideas and information” by combining its content creation tools with Utah-based Omniture’s optimization and measurement technologies.
"Adobe customers are looking to us for solutions to deliver engaging experiences and more effectively monetize their content and applications online," said Shantanu Narayen, president and chief executive officer of Adobe on the announcement. "This is a game changer for both Adobe and our customers. We will enable advertisers, media companies and e-tailers to realize the full value of their digital assets."
"Omniture's mission has been to enable our customers to optimize every digital interaction," said Josh James, CEO of Omniture. "By joining forces with Adobe, we will accelerate our ability to deliver on that vision and together bring new innovation to the market that improves content engagement, advertising effectiveness and the overall user experience, which will drive more advertising dollars online."
Analysts have agreed that the acquisition is a smart move on Adobe's part to help offset declining revenues from its Creative Suite.
"There is no way Adobe can grow organically. This is a smart move," commented Global Equities Research analyst Trip Chowdhry.
The deal is expected to close by the fourth quarter of Adobe’s 2009 fiscal year and will see Omniture become a new business unit within the company.