Increasing its interests in online-based advertising, Adobe Systems Inc. signed an agreement to purchase an analytics company, called Omniture Inc., for US$1.8 billion. The systems of Omniture track the performance of Websites and online advertising campaigns.
Adobe agreed to pay $21.50 a share for Omniture, which Bloomberg news reports to be 24 percent more than the closing price yesterday. A company statement explains, “Adobe’s acquisition of Omniture furthers its mission to revolutionize the way the world engages with ideas and information.”
In addition to its online measurement systems, Omniture also focuses on strategies and technologies to optimize the backend efficiency of Web-based communications.
Adobe also announced its third quarter financial results which saw the company’s profit fall 29 percent. In the third quarter of fiscal 2009, Adobe achieved revenue of $697.5 million, compared to $887.3 million reported for the third quarter of fiscal 2008 and $704.7 million reported in the second quarter of fiscal 2009.