Adobe has finalised a deal to purchase Day Software, an enterprise content management system specialist, the software giant announced on Wednesday.
Adobe is hoping that the CHF255m (£155m) acquisition of Day will help the company strengthen its web content management system and asset management system offerings, the company said.
"Adobe's acquisition of Day represents a key milestone in our efforts toward delivering best-in-class customer experience management solutions to enterprises and governments worldwide," Adobe's digital enterprise chief Rob Tarkoff said in a statement.
Upon closure of the deal — which is expected during the fourth quarter of Adobe's current fiscal year, subject to government approvals— Day will continue as a distinct product line within Adobe's Digital Enterprise Solutions Business Unit (DESBU).
According to the details of the offer, Adobe's bid represents a 59-percent premium on Day's share price over the last 60 days. Day's directors have unanimously recommended acceptance of the offer to shareholders.
"We are excited to join Adobe and combine our expertise in [web content management] with technologies that create and deliver rich online and offline experiences leveraging the ubiquity of Flash and PDF," Day chief executive Erik Hansen said in the statement. "We believe this is a winning combination for both Adobe and Day customers."
The purchase will complement Adobe's acquisition of the online marketing and web analytics company Omniture, which was announced in September last year. Speaking at the time, Adobe chief executive Shantanu Narayen called the move a "game changer" for the company, though some failed to see the benefits of the deal.