Audience measurement/analytics has been one of the few areas where companies have been able to hold out for high M&A prices. The latest example: Adobe Systems has struck an agreement to acquire audience analytics company Omniture for $1.8 billion. The terms call for Adobe (NSDQ: ADBE) to pay Omniture (NSDQ: OMTR) $21.50 per share in cash. Regular trading for Omniture was suspended at $17.33 before the market closed pending news; the price jumped 25 percent to $21.80 after hours — above the offer and what was a 24 percent premium. The announcement was made on the same day Adobe said Q2 earnings fell nearly 30 percent, while revenues dropped 21 percent. Adobe shares are down nearly 4 percent after hours, at $34.28. Release | Earnings release.
The promise of better ROI through more sophisticated targeting has fueled the recent acquisitions of audience measurement/analytics firms. Meanwhile, the proliferation of companies in the analytics space has spurred consolidation the last few months. In the case of Adobe, buying Omniture will give its content creation tools much more appeal. This is especially important as Adobe looks to shift its business focus from the desktop to the internet and mobile web. Plus, Omniture comes with a client list that includes just about all the top web publishers.
When the acquisition closes, Omniture