Day Software (SWX:DAYN)(OTCQX:DYIHY), a leading provider of global
content management software, today announces the completion of the sale
of MarketingNet Ltd, a UK company active in the agency services
business, to WAA Ltd, also a UK company. This sale marks the completion
of Day’s efforts to refocus its UK operations on its core business and
drive UK expansion through a channel-driven model.
Day Software acquired MarketingNet Ltd in October 2000. All existing
customers of MarketingNet Ltd will stay with MarketingNet Ltd, which
will be owned by WAA Ltd.
Commenting on the completion of the sale, Day’s CEO Erik Hansen said "As
the agency services business is not part of our core business, we are
delighted that we have been able to complete the sale of MarketingNet
Ltd to WAA Ltd as this ensures a good future for MarketingNet’s
customers as well as ensures that as many staff of MarketingNet as
possible have been able to keep in employment.”
As a result of the sale completion, Day are anticipating non-cash
charges in its 31st December 2008 results relating to
Goodwill as well as cash charges relating to discontinuing operations
such as leases, staff costs, and legal costs.
Day Software’s core operations in the UK carried out by Day Software Ltd
are not affected by this announcement.
About Day (www.day.com)
Day is a leading provider of integrated content management, portal and
digital asset management software. Day’s technology Communiqué provides
an easy-to-understand, quickly applicable framework for standardising
and managing all business data, systems, applications and processes via
the web.
Day is an international company established in 1993 and listed on the
SWX Swiss Exchange since April 2000. Day shares are also traded over the
counter (OTC) in the form of American Depositary Receipts (OTCQX:DYIHY).
Day’s customers are some of the most important global corporations and
include Audi, Daimler, Deutsche Post World Net, Deutsche Bank,
InterContinental Hotels Group, McDonald’s and Volkswagen.
Warning Regarding Forward-looking Statements
This press release may contain forward-looking statements about future
events or the future development of Day Software Holding AG and its
subsidiaries ("the Company”). Terms such as "expect”, "assume”,
"intend”, "believe”, "want” and any variations of these terms or similar
expressions are used to make forward-looking statements. These
statements are subject to change, and Day cannot necessarily provide
information about such changes. Of course, actual events or results can
deviate significantly from the forward-looking statements. The company’s
share is not listed on any stock exchange in the US, and the company
does not file any documents (e.g. 10-K and 10-Q) with the US Securities
and Exchange Commission SEC under the Securities Exchange Act of 1934.