Adobe Makes $240-Million Bid For Day Software

Adobe, in a statement Wednesday, said the acquisition would add Web content management, digital asset management and social collaboration applications to its enterprise software lineup.

With the Day Software technology Adobe customers will be better able to integrate their Web presence and business applications, the company said, using the Adobe-Day Software combination to create, manage, distribute and monetize content.

“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,” said Rob Tarkoff, Adobe senior vice president and general manager of digital enterprise solutions, in a statement.

Adobe and Day Software have entered into a definitive agreement under which Adobe has launched a tender offer to acquire all publicly held shares of Day Software’s stock. Day Software’s directors have approved the deal, which Adobe expects to complete in Adobe’s fourth fiscal quarter ending in late November. The acquisition also is subject to government approvals.

Once the acquisition is complete Day Software will operate as a product line within Adobe’s Digital Enterprise Solutions business unit. Day Software CEO Erik Hansen will report to Tarkoff.