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Omniture Buys Visual Sciences
Business optimization software firm Omniture Inc. has agreed to acquire Visual Sciences, Inc., formerly WebSideStory, in a cash and shares deal worth around $394 million.
Visual Sciences shareholders will receive $2.39 in cash per share and a fixed exchange ratio of 0.49 shares of Omniture stock for each Visual Sciences share, for a total consideration of $18.04 per share based on October 24th closing prices. At the conclusion, Visual Sciences stockholders are set to own c.13.7% of the combined company.
According to Josh James, CEO and co-founder of Omniture: 'We are facing a very significant opportunity defined by the rapid growth of online advertising and online business in general. This acquisition enables Omniture to accelerate our investments in advanced solutions that drive customer success as well as create further opportunities to cross-sell our growing portfolio of products to a combined customer base of more than 4,000 customers.'
Jim MacIntyre, CEO of Visual Sciences, says Omniture is 'absolutely the right company to leverage our technology and resources'.
The acquisition, which is expected to close in early / mid-2008, is subject to customary closing conditions including stockholder and regulatory approval.
Omniture hosts and delivers its software to customers as an on-demand subscription service - it also offers a range of complementary professional services including consulting, customer support and user training. The company announced a $121.8m share offer in May (www.mrweb.com/drno/news6830.htm ) and agreed in early September to buy on-demand A/B testing and multivariate testing company Offermatica, for $65m (www.mrweb.com/drno/news7287.htm ).
Visual Sciences, formerly known as WebSideStory, was founded in 1996 and provides real-time analytics applications for web sites, contact centers, retail points-of-sale, messaging systems and the intelligence community. Headquartered in San Diego, CA, it has offices in Herndon, Virginia and Amsterdam, The Netherlands.
Web sites are at www.omniture.com and www.visualsciences.com.
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