Adobe Systems Incorporated and Day Software Holding AG entered into a definitive agreement for Adobe to acquire all of the publicly held registered shares of Day Software, thereby acquiring the company. The transaction is valued at approximately $240 million, based on current exchange rates.
Day is a developer of ECM and digital asset management software, with headquarters in both Switzerland and Boston. According to Adobe, the acquisition will strengthen the company's enterprise software solutions. Under the terms of the agreement, Day would continue to operate as a separate product line and key staff, such as CEO Erik Hansen, would also join Adobe.