Omniture, a web analytics company, announced that it will spend $6.5 million on intellectual property and business assets from Mercado, a Pleasanton, Calif. company specializing in website search and optimization tools.
Omniture, which has already integrated Mercado technology into some of its products, says the acquisition will allow it to offer more site search options to its retail clients, which include big name shopping site Overstock.com. Along with these advantages, the Orem, Utah-based firm will also assume certain operating liabilities. The deal is expected to close by the end of the year but is currently hung up by government approvals in Israel, where Mercado has an office.
