SAN JOSE (AP) ¿ Adobe Systems Inc., a developer of content-creation software, said Friday that it has completed a tender offer in its bid to buy software maker Omniture Inc.
Adobe subsidiary Snowbird Acquisition Corp.'s offer for Omniture's outstanding shares at $21.50 each expired at 12 a.m. EDT Thursday.
About 68.1 million shares were tendered, representing 86.7 percent of Omniture's shares. Adobe also has commitments to tender about 3 million more shares.
The San Jose, Calif., company agreed in September to buy Omniture in an all-cash deal valued at $1.8 billion. Omniture, based in Orem, Utah, sells software as an on-demand subscription service.Adobe shares dipped 32 cents to $34.85, while Omniture shares rose 2 cents to $21.50.