Tech must be back: Adobe busts out $1.8 billion for Omniture


Did somebody ask if tech was back?

Today's blockbuster acquisition by Adobe (ADBE) of Web analytics and optimization provider Omniture for $1.8 billion in cold hard cash may not fully answer the question, but it is a very positive sign -- not just for tech, but for the broader mergers and acquisitions market, as well as the economy as a whole.

Late Tuesday, after the close of the stock market, Adobe, the software and graphics giant, announced a friendly offer of $21.50 per share to Omniture shareholders. With Omniture shares closing today at $17.32, Adobe's offer represents a handsome 30 percent premium. In after hours trading, Omniture shares jumped 27 percent to $22, 50 cents above the Adobe bid.