Switzerland’s SoftwareOne rejects Bain Capital’s $3.5B takeover offer

Switzerland-based SoftwareOne Holding AG has decided to remain independent, rejecting a substantial takeover offer from Bain Capital. According to Bloomberg, the private equity firm’s proposal valued SoftwareOne at 2.98 billion Swiss francs, approximately $3.5 billion, but failed to sway the Swiss company’s decision.

The recent offer from Bain Capital, amounting to 18.8 francs per share, comes after a series of negotiations and previous bids. In July, SoftwareOne had turned down another offer from Bain, which was as high as 20.5 francs per share. This rejection led to a strategic review by SoftwareOne to explore various options for the business, including a public auction.

SoftwareOne’s market value and shareholder perspectives

Since July, SoftwareOne’s share price has seen a decline of about 13%, bringing the company’s market value to 2.54 billion francs as of the last trading session. The stalled talks with Bain Capital had previously caused frustration among some of SoftwareOne’s large shareholders, who considered exerting more pressure on the company’s senior management to pursue a deal.

SoftwareOne, headquartered in Stans, Switzerland, specializes in advising companies on software purchases and collaborates with major providers like Amazon Web Services, Adobe Inc., and IBM. It is also one of the largest resellers of Microsoft Corp. software licenses.

SoftwareOne plans to announce its outlook for 2024, medium-term guidance, and results for the previous year on Feb. 15. This announcement is eagerly anticipated by the market and stakeholders, given the company’s recent decision to remain independent and reject Bain Capital’s offer.

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