Business News
Adobe Successfully Completes Acquisition of Day Software
Friday 29. October 2010 - Adobe Systems Incorporated (Nasdaq:ADBE) today announced the successful completion of the tender offer for all outstanding publicly held registered shares of Day Software Holding AG (SIX:DAYN) (OTCQX:DYIHY).
By the end of the additional acceptance period of the offer, 1,550,863 Day shares were tendered into the offer. Including the 35 Day shares held by Day or any of its subsidiaries and the 27,319 Day shares acquired by Adobe after the offer period outside of the offer, at the end of the additional acceptance period, Adobe would have held 98.84 percent of all Day shares and voting rights issued and outstanding as of that time.
Payment of the offer price for all validly tendered shares has been made in accordance with the terms of the tender offer. Since, at the end of the additional acceptance period, Adobes participation amounted to more than 98 percent of all voting rights of Day, Adobe will, as announced in the offer prospectus and the interim result of the offer, request the cancellation of all Day shares not directly or indirectly held by Adobe at the end of the additional acceptance period pursuant to applicable Swiss law and file a request with SIX Swiss Exchange for the delisting of the Day shares.
With the acquisition now completed, Day will operate as a new product line within Adobe’s Digital Enterprise Solutions Business Unit, with Day Chief Executive Officer Erik Hansen reporting directly to Rob Tarkoff, senior vice president and general manager.
“The completion of Adobes acquisition of Day puts us on our path to deliver best-in-class customer experience management solutions to enterprises,” said Tarkoff. “Exciting opportunities lie ahead as we give our customers the ability to transform customer experiences, supporting our vision of the Web as the hub of customer interaction. We couldnt be more excited about the fit of Days products in our enterprise portfolio and working toward our vision with the Day team.”
The combination of Adobes customer experience management offerings combined with Day’s capabilities will create the leading platform for designing, building, and optimizing customer experiences across all channels including Web, mobile, social and in-store interaction. Leading organizations currently using Day solutions include: Volkswagen, Daimler, BMW, Gap, General Motors, Nissan, Williams Sonoma, John Lewis, Skype, Lufthansa, UBS, Hyatt, Intercontinental Hotels Group, McDonalds, Newsweek, MTV, Kelloggs and the World Bank.
“With our 71 percent total revenue growth year over year for the three month period ended Sept. 30, 2010, the need for Days innovative Web Content Management capabilities is clear,” said Erik Hansen, chief executive officer, Day Software. “The opportunities are immense in the rapidly growing market of customer experience management, making it an exciting time to join Adobe. Together, we can deliver advanced capabilities for providing the most engaging customer experiences online.”