Adobe Systems Inc., San Jose, Calif., and Basel, Switzerland-based Day Software Holding AG, announce that the two companies have entered into a definitive agreement for Adobe to launch a public tender offer to acquire all of the publicly held registered shares of Day Software. The deal is set at approximately $240 million U.S. dollars, will strengthen Adobe’s enterprise software solutions with new web content management (WCM), digital asset management and social collaboration offerings. This acquisition represents a significant market opportunity for Adobe.
Day’s leading web solutions combined with Adobe’s existing enterprise portfolio will enable customers to better integrate their global web presence and business applications. In addition, Day customers will be able to leverage more interactive applications and document capabilities via Adobe’s product offerings.
As part of the expected integration of the two companies, Day will operate as a product line within Adobe's Digital Enterprise Solutions Business Unit. Day CEO Erik Hansen will join Adobe reporting directly to Rob Tarkoff. The completion of the transaction, subject to government approvals and other conditions, is expected to close in the fourth quarter of Adobe’s 2010 fiscal year.