SoftwareOne says discussions with potential buyers ongoing (updated)

SoftwareOne Holding AG

21/08/2024 06:25

(Adds detail, company comment)
       ZURICH, Aug 21 (Reuters) - SoftwareOne  SWON.S  on
Wednesday said discussions with potential buyers were ongoing as
the Swiss software services company reported a slowdown in
revenue growth and adjusted its full-year guidance downwards.
    Revenue increased by 7.0% in first half of the year, said
the company, which has attracted takeover interest from Apax
Partners, Bain Capital and CVC  CVC.AS .
    The increase, measured in constant currencies, was a decline
from the 7.4% rate in the first quarter.
    As a result, the company reduced its full guidance for full
year revenues to increase by 7% to 9%, down from its previous
outlook for an 8-10% increase. 
        Other parts of the outlook, such as a dividend pay-out
ratio and profit margin, were unchanged.
  
        SoftwareOne, which Reuters 
    reported
     last month has attracted renewed takeover interest, said it
was still examining "several" approaches to take the company
private.
  
    "Indications of interest have been received," it said on
Wednesday. "Discussions, although challenging given the general
business environment, are progressing. The Board will provide
further updates if and when required."
        The company, which helps customers buy and manage
software from other providers such as Microsoft, SAP and Adobe,
flagged the approaches in May and has set up a committee to
examine the matter.
  

 (Reporting by John Revill, Editing by Miranda Murray)
 ((John.Revill@thomsonreuters.com; +41 41 528 36 37; Reuters
Messaging: john.revill.thomsonreuters.com@reuters.net))