Tuesday, June 27, 2006
Omniture Prices IPO
Orem, Utah-based Omniture announced this evening that it is pricing its initial public offering at $6.50 per share, making its IPO worth approximately $50.1M. The offering price is below the initial $7.50 to $9 range the company had forecasted in its earlier IPO filings. The firm said that it is offering 10,700,000 shares of its common stock on the Nasdaq as OMTR. The company's IPO is being underwritten by Morgan Stanley & Co., Credit Suisse Securities LLC, Deutsche Bank Securities, and J.P. Morgan Securities. Omniture said that it will use the proceeds for general corporate purposes and for a $4.0M license payment. Omniture provides web analytics services, used by companies to optimize their e-commerce web sites and track web traffic. The firm's venture capital backers include Hummer Winblad Venture Partners and BA Venture Partners.