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Adobe Gets Green Light to Buy Omniture
In the US, regulators have given graphic design software giant Adobe the go ahead to proceed with its acquisition of web analytics firm Omniture for around $1.8 billion, or $21.50 per share. The offer deadline for shareholders is October 22.
The deal, which was first announced last month, would see Adobe combine its content creation tools with Omniture's web analytics, measurement and optimization technologies, to help clients analyze how consumers use web sites and thus target their ads more effectively.
A number of investors have filed lawsuits over alleged breaches of duty in connection with the takeover, with suggestions that the firm's Board failed to conduct an open and fair auction process in order to maximize shareholder value. Since the deal was announced, at least one analyst has set a $25 price target for Omniture stock.
Yesterday, computer giant IBM's buy of software firm SPSS was completed despite earlier shareholder claims that the firm had failed to conduct a fair auction.
This morning, Adobe shares rose 51 cents to $33.06.
Web sites: www.adobe.com and www.omniture.com .
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