SoftwareOne, a major global provider of solutions and services aimed at customers’ cloud strategies, said Thursday that it received a second unsolicited takeover offer from Bain Capital that would value the deal at $3.7 billion.
The Switzerland-based company, ranked No. 43 on the CRN 2023 Solution Provider 500, said that the non-binding offer was in the range of 19.50 CHF (Swiss francs) and 20.50 CHF per share. SoftwareOne’s stock rose nearly 4 percent Thursday to close at 18.87 CHF.
“In line with its fiduciary duty, the board is assessing the revised proposal and will make a recommendation that it believes is in the best interest of all shareholders,” the company said in a statement on its website. “A further announcement will be made if and when appropriate.”
[RELATED STORY: SoftwareOne Rejects $3.2B Bain Capital Offer As Too Low ]
A spokesperson for Bain Capital said that the firm had no comment.ADVERTISEMENT
In June, SoftwareOne said that it rejected a $3.2 billion takeover offer from Bain and other investors.
Supporting Bain Capital on the offer were 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.
The first half of 2023 has been a busy time for SoftwareOne, which in May reported that its first fiscal quarter 2023 saw revenue increase year-over-year by 8.7 percent.
The company in May got a new CEO, Brian Duffy, who previously served as president of cloud for SAP. Also in May, von Stockar retired as chairman, and was replaced by Adam Warby.
May also saw SoftwareOne acquire Beniva Consulting, an elite ServiceNow partner serving the North American market.LEARN MORE: Cloud Platforms
The 10 Hottest Data Science And Machine Learning Startups Of 2023 (So Far)Databricks Offers Data Unity Option With New Delta Lake ReleaseSnowflake Unveils Generative AI, AppDev, Data Monetization Initiatives At Summit 2023CEO Antonio Neri: HPE Is Seeing A ‘Simply Amazing’ Uptick In AI OrdersAlteryx Leverages Generative AI To Expand Analytics Platform Capabilities TO TOPADVERTISEMENT
- Google Cloud Begins Profitability Era: 5 Huge Q2 Earnings Takeaways | CRN
- Microsoft Cloud Breach: 5 Key Findings From Wiz | CRN
- Ingram Micro Lays Off Workers, Citing ‘Changing Global And Local Market Conditions’ | CRN
- Cloudflare CEO Matthew Prince: Most Zero Trust Security Tools ‘Slow You Down’ | CRN
- The 10 Hottest Cybersecurity Startups In 2022 (So Far) | CRN