Day Software acquisition to boost Adobe's CEM portfolioby
Adobe Systems has entered into a definitive agreement to acquire web content management vendor Day Systems for about $240 million in cash in a bid to enhance its customer experience management software portfolio.
The aim is to integrate Swiss firm Day’s web content management, digital asset management and social collaboration offerings with Adobe’s application development products, which include AIR, Flash, Flex, Lifecycle, and its PDF tools.
Day will be run as a separate product line in Adobe’s Digital Enterprise Solutions (DES) business unit, however, and chief executive Erik Hansen, will report directly to Rob Tarkoff, DES’ senior vice president and general manager.
Tarkoff 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."
The move would "help organisations transform themselves by enabling them to create, manage, distribute and monetise content while optimising the web experience for their customers," he added.
The proposed offer of CHF 139 per share represents a premium of 59% over Day’s volume-weighted share price for the last 60 days of trading. Day’s board has unanimously recommended the offer to shareholders and the deal is expected to close in the fourth quarter of Adobe’s 2010 fiscal year.
Please login or register to join the discussion.
There are currently no replies, be the first to post a reply.