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Adobe to buy Day Software
Adobe Systems yesterday agreed to buy Switzerland-based Day Software Holding for $240m (£153.8m), to strengthen its enterprise software segment and add web content management software to its portfolio. Day shareholders will receive 139 Swiss francs per share, a 34 per cent premium to Day’s Tuesday close of 104 Swiss francs. The deal, valued at 255m Swiss francs will have no material impact on Adobe’s 2010 earnings but will add to its 2011 earnings.