RealTime IT News

Day Interactive Secures Outside Investments

Swiss Internet-advertising company. Day Interactive Holding AG said that two private-equity funds owned by UBS AG, Europe's second-largest bank, and Swiss Reinsurance Co., bought minority stakes in the company.

The Basel-based holding company said aventic AG, an equity company owned by UBS, and Swiss Re Partnership Holding AG, a subsidiary of the Swiss reinsurer, each bought stakes worth 5.25 million Swiss francs ($3.3 million) in Day, which makes software for publication of information on the Internet.

Day had sales of 5.8 million francs in 1998, according to a Bloomberg News report.

It wants to accelerate its expansion in Switzerland and abroad, particularly in Germany, the U.K. and the U.S., the company said.