Swiss IT service provider SoftwareOne is evaluating potential offers from buyers, as the company is currently valued at approximately 2.7 billion Swiss francs on the stock market. The company announced on August 21 that its board of directors has been approached by several interested parties regarding a possible going-private transaction.
To ensure an orderly process, the board has established a transaction committee led by Till Spillmann, which includes all independent board members. This move comes after SoftwareOne disclosed in May that it had received interest from potential buyers. Industry insiders suggest that the IT service provider has attracted the attention of financial investors.
In April, shareholders ousted the previous board of directors, who had resisted a sale of the company and had rejected an informal offer from financial investor Bain.
Despite these developments, SoftwareOne reaffirmed its annual forecast for 2024. The company expects its revenue to increase by eight to ten percent on a constant currency basis and aims for an adjusted EBITDA margin of 24.5 to 25.5 percent. Additionally, SoftwareOne plans to distribute 30 to 50 percent of its adjusted annual profit to shareholders. For the period from January to June, the company reported a 7.4 percent increase in sales revenue to 246.9 million Swiss francs and an improvement in the adjusted EBITDA margin by 1.8 percentage points to 18.4 percent.
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