Venture capital investors Hummer Winblad Venture Partners and Scale Venture Partners have sold their investments in Omniture to Adobe Systems.
Adobe is a provider of diversified software solutions, while Omniture is a provider of online business optimization software.
Adobe, through its wholly-owned subsidiary Snowbird Acquisition, has completed its tender offer to acquire all of the outstanding shares of Omniture.
A total of approximately 68,125,532 shares were validly tendered and not withdrawn in the tender offer, representing approximately 86.68 per cent of Omniture’s issued and outstanding shares. Adobe has received commitments to tender approximately 3,031,464 additional shares under the guaranteed delivery procedures for the tender offer.
Adobe has acquired the remaining shares of Omniture through a short form merger. In order to accomplish the short form merger under Delaware law, Snowbird Acquisition will exercise its top-up option pursuant to the agreement, which permits it to purchase additional shares of common stock of Omniture directly from Omniture for USD21.50 per share. The offer represents a premium of 26.47 per cent over Omniture’s closing price on 14 September.
As part of the integration of the two companies, Omniture will become a new business unit within Adobe.
The acquisition expands Adobe’s solutions to the rapidly growing internet advertising, e-commerce and digital media markets. It also diversifies Adobe’s business, adding scalable software-as-service platform. For Omniture, joining Adobe will provide greater operational scale and the ability to more quickly penetrate new geographies and markets, thereby accelerating its go-to-market strategy and growth potential.
