Adobe To Nab Swiss Web Software Co. For $240M

Law360, New York (July 28, 2010, 12:54 PM EDT) -- Adobe Systems Inc. plans to launch a public tender offer to buy the shares of Switzerland-based Day Software Holding AG in a deal valued at about $240 million, the companies announced Wednesday.

San Jose, Calif.-based Adobe will offer 139 Swiss francs ($131.50) per share in cash, which represents a 59 percent premium over Day's volume-weighted average share price over the past 60 trading days, they said.

The transaction will bring together Day's Web content-management systems with Adobe applications such as Flash and Acrobat, the companies said....
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