Weird: Adobe Buying Omniture For $1.8 Billion

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Adobe has agreed to acquire Omniture, a Web analytics company, for $1.8 billion in cash, or $21.50 per share. That’s an approximately 45% premium over the stock’s closing price over the last 30 days.

This is an unexpected move, as while there are several businesses that Adobe could go into, analytics would not have been our first guess. (Companies mostly buy creative software and server tools from Adobe.)

But Adobe believes the acquisition will be accretive to its non-GAAP earnings in fiscal 2010. Perhaps it’s counting its close relationship with publishers on the creative tools side could help them upsell Omniture service. Or vice-versa.

Omniture — a for-fee service used by mostly large publishers — often competes with free or inexpensive analytics services like Google Analytics. Wall Street expects Omniture to report $88 million in Q3 sales, up 10% year-over-year.

Disclosure: I have owned Omniture shares for several years. My disclosures are here.

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