Tag: Bain

SoftwareONE snubs Bain Capital’s bid in bold move

Posted on January 16, 2024 by - News

SoftwareOne has turned down a takeover bid from private equity firm Bain Capital, choosing to stay independent after a big review.

The global software and cloud solutions provider’s board of directors looked at ways to make more money, including selling the company in the big review that started in July 2023.

After a thorough check, PE firm Bain Capital made a non-binding offer to buy SoftwareOne, but the board decided that Bain’s offer was not good enough or fair enough.

With help from an independent valuation and expert advice, the board all agreed that saying no to Bain’s offer was the best thing for the company and its people.

SoftwareOne still stalling on Bain deal.

Posted on January 9, 2024 by - News

SoftwareOne is still talking to Bain Capital after turning down several takeover offers from the private equity giant and fresh gossip that the deal was losing support from the board.

The statement comes after media reports that Bain’s planned buyout was “hitting the brakes”.

SoftwareOne’s statement said: “The board is still focused on driving shareholder value and acting in the best interest of the company and all stakeholders. The board hopes to finish talks and give an update on the outcome of the strategic review to shareholders by the end of the month.”

A report from Bloomberg said Bain Capital’s chase of SoftwareOne had stalled after an offer of nearly £2.7 billion got a “cold response from the software firm’s board”.

SoftwareOne snubs Bain Capital again

Posted on July 25, 2023 by - News

SoftwareOne has snubbed Bain Capital’s second acquisition offer and is now apparently considering what it will do with its life.

The private equity firm offer of £2.8 billion after its initial bid of £2.5 billion was rejected for materially undervaluing SoftwareOne.

“The board unanimously agreed that the second indicative offer does not adequately value the company and is not in the best interest of SoftwareOne and the majority of its shareholders,” the group said in a statement.

Bain capital increases sweeteners to woo SoftwareOne

Posted on July 24, 2023 by - News

Bain Capital has increased its offer for SoftwareOne Holding AG to 3.72 billion.

SoftwareOne and Bain Capital declined to comment on the report.

The reported new offer is at a premium of 43.6 per cent from SoftwareOne’s last close on May 31, when Bain first presented an offer to the Swiss firm valuing it at $3.2 billion.

SoftwareOne’s board last month turned down Bain’s earlier offer although it received support from founding shareholders, Daniel von Stockar, B Curti Holding and Rene Gilli, who together hold 29.1 per cent of the company.

SoftwareOne helps companies manage software purchases from vendors such as Microsoft, Adobe and IBM. It floated on the Swiss exchange in 2019.

SoftwareOne snubs Bain Capital takeover offer

Posted on June 19, 2023 by - News

SoftwareOne has rejected a $3.2 billion Bain Capital offer to acquire the Switzerland-based company.

The proposed deal, described by SoftwareOne as an “indicative, unsolicited and non-binding offer,” was made by Bain Capital to acquire 100 percent of the company at 18.50 CHF (Swiss franks) per share. At Thursday’s exchange rate, that is about $20.51 per share.

Supporting Bain Capital on the offer are three investors in SoftwareOne who collectively hold about 29 percent of the company’s share capital, including Daniel von Stockar, B. Curti Holding AG, and René Gilli, SoftwareOne said.

von Stockar is the co-founder of SoftwareOne and currently sits on the company’s board of directors. He served as chairman of the board until April. Gilli served on the company’s board of directors until spring of 2022.