2024-01-15 13:58:05
Swiss publisher Softwareone announces that it will remain an independent company, following a thorough examination of all strategic options following takeover offers.
Updated January 15, 2024: Softwareone will remain an independent company listed on the stock exchange, announces the software publisher of Stans following a review of all strategic options started in July 2023.
Together with its legal and financial advisors, Softwareone examined various value creation possibilities, including a possible sale of the company. During this process, Softwareone received an offer of 18.80 francs per share from Bain Capital. This offer was considered too low by Softwareone and was not considered “in the best interest of the company and all stakeholders”, underlines the press release. Other offers had come in, from Bain Capital (read below) and other companies.
Softwareone therefore decided to remain independent. On February 15, the company will provide a detailed overview of its financial performance and its strategy to drive value creation.
Following this announcement, the Softwareone share price fell at the opening of the markets on Monday, January 15.
Original news from June 15, 2023: Softwareone, a publicly traded Swiss company specializing in software license management, said it had received a buyout offer from Bain Capital. The British hedge fund proposed to acquire 100% of the company at a price of 18.50 per share, valuing Softwareone at 2.9 billion francs ($3.21 billion), Archyde.com reports.
In its press release, Softwareone specifies that founding members Daniel von Stockar, Beat Curti and René Gilli, who together hold approximately 29% of the company’s share capital, supported the offer. However, the latter was refused by the board of directors, which “unanimously agreed that the proposal materially undervalued the company”, underlines the Swiss company in its press release. The board therefore judged that it would not be in the interest of the company and the majority of its shareholders to accept Bain Capital’s offer.
Softwareone, which today boasts 9,000 employees and a portfolio of 7,500 software brands, went public in 2019.
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