Adobe has announced that it has signed an agreement to launch a public tender offer to buy all the registered shares of Swiss company Day Software Holding.
The software company has said it will buy each share for CHF139 in cash, the total acquisition is valued at approximately CHF255 million on a fully diluted equity, which is around $240 million at the current exchange rate.
According to Adobe, the acquisition of Day will “strengthen its enterprise software solutions with market leading Web Content Management (WCM), Digital Asset Management and Social Collaboration offerings.”
It said the acquisition is an opportunity for Adobe to help organisations “transform themselves” by letting them create, manage, distribute and monetise content.
The sale is also said to give customers a better opportunity to better integrate their global web presence and business applications. Day customers are also said to be able “to leverage” more interactive application and document capabilities from Adobe AIR, Flash, Flex, LiveCycle and PDF.
Rob Tarkoff, senior vice president and general manager, Digital Enterprise Solutions, Adobe, said in a statement: “Adobe’s acquisition of Day represents a key milestone in our efforts toward delivering best-in-class customer experience management solutions to enterprises and governments worldwide.
“With the addition of Day to our enterprise portfolio, we will be able to enhance the value of our offering and deliver on our vision of the web as the hub of customer interaction.”
And there will also be a few shake-ups within the company if the integration goes ahead. Day will operate as a product line within Adobe’s Digital Enterprise Solutions Business Unit and the company’s CEO Erik Hansen will join Adobe, reporting directly to Rob Tarkoff.
If it is agreed and cleared by government approvals, the acquisition is expected to close in the fourth quarter of Adobe’s 2010 fiscal year. Until the acquisition closes, Adobe and Day will continue to operate as separate companies. Adobe said customers and partners should continue to work with their existing Day contacts.