Adobe has unveiled its plans to acquire Switzerland-based web content management offerings provider Day Software, in a move to strengthen its web based enterprise software offerings.
Both 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 in a transaction valued at approximately $240m. Day Software shareholders will receive CHF 139 per share.
Day will operate as a product line within Adobe’s Digital Enterprise Solutions Business Unit and Day’s CEO Erik Hansen will join Adobe reporting directly to Rob Tarkoff, the companies said.
Adobe expects the acquisition will have no material impact on its non-GAAP earnings for fiscal year 2010 and will be accretive to non-GAAP earnings for fiscal year 2011.
Rob Tarkoff, senior vice president and general manager of Digital Enterprise Solutions at Adobe, said: "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."
