In a surprising turn of events, the founding shareholders of Software One, led by Daniel von Stockar, have successfully staged a revolt against the board of directors and taken control of the company. This move paves the way for a potential takeover by financial investor Bain Capital, which has shown interest in acquiring the Stans-based reseller of Microsoft products.
Software One, which generates over a billion francs in sales and employs more than 9,000 people worldwide, has faced criticism from its founding shareholders for its sluggish performance following its 2019 IPO. The group’s board of directors rejected Bain Capital’s takeover proposal, leading to the rebellion by the founders.
Now that they have taken control, Stockar will lead the new management body with individuals he has recommended. The decision to revamp the company’s leadership came after Software One’s disappointing performance last year. Operationsally, the company is showing signs of improvement with a 3 percent increase in sales and a 2 percent rise in adjusted operating profit. The company’s strategy to expand its services beyond pure software resale is also expected to drive growth.
The big question now is whether Bain Capital will make a new official takeover offer for Software One. The previous offer of 18.80 francs per share was considered too low by the old board of directors, leading to the revolt by the founding shareholders. Despite this potential takeover threat, the founders are optimistic about Software One’s future under new leadership. They believe that the company’s focus on advising corporate customers and cloud services will bring in more revenue and improve profitability. Overall, Software One is on track to achieve strong sales growth and enhanced profitability in the coming years under new management leadership.
