Adobe Systems buys Swiss software maker Day for $240 million

Adobe buys Swiss software maker for $240M

SAN JOSE, Calif. — Adobe Systems Inc. will begin a public tender offer to buy Swiss software maker Day Software Holding AG in a deal the two valued at $240 million, the companies announced Wednesday.

Adobe, which makes document-viewing and other software, said its acquisition of Day will boost its enterprise business that sells specially created software to businesses and industries to help them become more efficient.

Under the terms of the deal, Day will become part of Adobe’s digital enterprise solutions business division. The offer of 139 Swiss francs per share was unanimously recommended by Day’s board of directors.

Day is based in Basel, Switzerland and Boston and has 146 employees.

The buyout is expected to be completed by Adobe’s fourth quarter and still needs government approval.

Based in San Jose, Calif., shares of Adobe closed Tuesday at $29.22.