Basel, Switzerland and Newport Beach, CA - December 31, 2008 - 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
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, DaimlerChrysler, 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.
For Further Information:
Peter Nachbur
Day Software AG
Barfuesserplatz 6
4001 Basel, Switzerland
Phone +41 61 226 98 98
E-mail: peter.nachbur@day.com