Adobe has announced the acquisition of web-based software developer Day Software, the Wall Street Journal reported on Wednesday.
California-based Adobe has agreed to acquire Switzerland-based Day Software, developer of enterprise content management software for $240 million.
The company plans to deploy Day's CQ5 software with its Web content, digital asset management and social collaboration tools.
"With the addition of Day to our enterprise portfolio, we will be able to enhance the value of our offering and deliver on our vision of the Web as the hub of customer interaction," said Adobe digital vice presidnet and general manager Rob Tarkoff in a statement.
Adobe has said that it will launch a tender to acquire all publicly held shares in Days Software.
Under the agreement, Day’s chief executive Erik Hansen will join Adobe’s Digital Enterprise Solutions Business Unit.
The acquisition is expected to be finalised by the end of the fourth quarter as it first has to be approved by competition watchdogs.