In a surprising turn of events, the founding shareholders around Daniel von Stockar have seized control of Software One and are leading a rebellion against the board of directors. The group, led by von Stockar, includes René Gilli and Beat Curti’s holding company, who hold around 29 percent of the shares. They formed an alliance with Bain Capital, a financial investor who proposed taking over the group and delisting it from the stock exchange.
Despite operational growth and profitability, Software One went public too early in 2019, according to von Stockar, and has not met expectations since. The old board of directors rejected Bain Capital’s proposal to take over the group, leading to a successful revolt by the founding shareholders. Now, von Stockar will head the new management body, filled with people he has recommended. The plan is to develop Software One without the pressure from the financial market and improve its strategy for the future.
The big question now is whether Bain Capital will launch a new official takeover offer. The last offer was rejected by the old board of directors, but the founding shareholders are interested in selling some of their securities to Bain. The company’s strategy under CEO Brian Duffy includes expanding advice to corporate customers and helping them organize data transmission in the cloud. This consulting segment is growing faster than classic reselling and is expected to contribute more to sales in the future.
Overall, Software One is on track operationally but believes that it has become too sluggish and risk-averse under its current leadership. With von Stockar at the helm and potentially under new ownership by Bain Capital, Software One aims to regain its drive and focus on growth. However, as they await a possible new offer from Bain Capital and navigate changes in leadership and strategy, uncertainty remains about what lies ahead for this Microsoft partner company.