Adobe Sees Omniture Acquisition Closing Friday
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.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV