Adobe Systems will acquire Day Software Holding AG, a Switzerland-based developer of Web content management applications, in a deal valued at about $240 million, the companies said Tuesday.
Adobe said acquiring Day Software would help Adobe expand its product lineup to include Web content management, digital asset management and social collaboration applications. The combination of those products with Adobe's current product portfolio, including Adobe AIR, Adobe Flash and Adobe LiveCycle, will help customers better integrate their online content with their business applications, the company said.
"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," said Rob Tarkoff, senior vice president and general manager of Digital Enterprise Solutions at Adobe, in a statement.
Day will operate as a product line within the Digital Enterprise Solutions business unit with Day CEO Erik Hansen reporting to Tarkoff.
Adobe will pay 139 Swiss Francs per share for Day Software for a total of 255 million Swiss Francs or approximately U.S. $240 million. Adobe expects to complete the acquisition, which is subject to regulatory approvals, during its fiscal fourth quarter ending in November.