SoftwareOne Founding Shareholders and Bain Capital End Concerted Effort

On March 4, 2024, the founding shareholders of SoftwareOne Holding AG, represented by Daniel von Stockar, B. Curti Holding AG, and René Gilli, holding a collective 29% of the company, announced the termination of their collaborative actions with Bain Capital. This decision comes after their proposal to take SoftwareOne private was declined by the company’s Board of Directors in January 2024. The failed going-private transaction and subsequent challenges, including a dispute over the group's constitution and share ownership, have led to the dissolution of their partnership with Bain Capital.

The founding shareholders aimed to convene an extraordinary general meeting to reconstitute the Board, pushing for changes following what they describe as destructive leadership. However, conflicts with the current Board, which threatened to suspend their voting rights, have resulted in a strategic pivot. Despite the legal turmoil, the founders aim to proceed with an EGM to reflect shareholder interests without further dispute, stressing the need for new leadership to restore SoftwareOne’s value and direction.

Their intention remains to transition SoftwareOne into a private entity, believing that it is in the company’s best interest for future growth. The nominated candidates for the Board, considered by the founders as independent and competent, are expected to reassess the potential for going private, marking a critical step towards resolving the ongoing leadership quagmire.