Omniture Solidifies Position As Industry Leader With Visual Sciences Acquisition
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Omniture (OMTR) late Thursday announced that it will buy Visual Sciences (VSCN), one of its primary rivals in the online business-optimization industry. Omniture will pay $2.39 a share in cash and 0.49 shares of OMTR stock for each VSCN share. Total compensation based on Wednesday’s closing price comes to $18.04 a share, or $394 million, but that total is now higher: the new value is $20.62 a share (it is a moving target, of course).
The company said the deal should be immediately accretive to earnings on a non-GAAP basis. The deal should close in early- to mid-2008.
In a research note Friday morning, J.P. Morgan’s Imran Khan notes that Omniture also indicated that third quarter results will top the high end of guidance, meaning more than $37.1 million in revenue, $5 million in EBITDA and 5 cents in non-GAAP EPS.
“We think the deal makes a great deal of sense, and opens up possibilities for strategic synergies, both near- and long-term,” Khan wrote. He says the deal “would solidify Omniture as an industry leader and the go-to solution in the analytics space.”
OMTR vs. VSCN 1-yr chart:
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