공시 • Jul 03

SoftwareONE Holding AG (SWX:SWON) Completed the acquisition of Crayon Group Holding ASA (OB:CRAYN) from Rune Syversen, Jens Rugseth and others for NOK 10.8 billion.

SoftwareONE Holding AG (SWX:SWON) proposed voluntary stock and cash offer to acquire Crayon Group Holding ASA (OB:CRAYN) from Rune Syversen, Jens Rugseth and others for NOK 11.6 billion on December 19, 2024. In view of the transaction, SoftwareOne will make a voluntary offer to acquire all outstanding shares in Crayon pursuant to the Norwegian Securities Trading Act. The shareholders of Crayon will receive 0.8233 new shares in SoftwareOne and NOK 69 in cash for each share in Crayon. The implied offer value is NOK 144 per Crayon share, based on SoftwareOne’s undisturbed share price. The offer is based on an agreed valuation of Crayon at NOK 172.5 per share, which represents a 36% premium to the undisturbed share price, with a consideration of 40% cash and 60% shares. The share component assumes an exchange ratio based on an agreed valuation of SoftwareOne at CHF 10 per share, representing a 38% premium to the undisturbed share price. The issuance of up to 72 million new SoftwareOne shares to the accepting Crayon shareholders, representing up to 32% of SoftwareOne’s new total share capital, will require the approval by SoftwareOne shareholders. The transaction will be financed by investment grade bridge facilities of approximately NOK 8800 million (CHF 700 million) to fund the cash consideration and refinance Crayon’s existing debt. Following the transaction, SoftwareOne expects proforma net debt / adjusted EBITDA (including synergies and implementation costs) to be below 2.0x as at December 31, 2025. Full support of the transaction from the founding shareholders of SoftwareOne and Crayon, holding 29% and 5% of the share capital, respectively, with the SoftwareOne founding shareholders having pre-committed to vote in favour of the necessary resolutions at a SoftwareOne shareholders’ meeting and the Crayon founding shareholders having pre-committed to tender their shares in the offer. The parties have agreed that, as part of the transaction, Crayon will appoint two nominees to be proposed as additional members of the Board of Directors of SoftwareOne. Raphael Erb and Melissa Mulholland, will be Co-Chief Executive Officers of the combined company. The combined company will have its legal domicile in Stans, Switzerland. Post completion of the acquisition, the companies will explore the possibility of carrying out a dual listing of the consideration shares on the Oslo Stock Exchange. Such a dual listing will be subject to regulatory approvals by inter alia FINMA and the Oslo Stock Exchange. Launch of the offer is subject to the following conditions being satisfied: (a) the pre-acceptances shall remain valid and in full force; (b) the Board of Directors of Crayon’s recommendation of the offer shall not have been withdrawn, modified or amended; (c) Crayon shall in all material respects have complied with its obligations under the transaction agreement entered into between the parties on December 19, 2024, and there shall otherwise have been no material breach of the transaction agreement by Crayon which entitles SoftwareOne to terminate the transaction agreement pursuant to its terms. The transaction is also subject to customary conditions, including a minimum acceptance of the offer of at least 90% of Crayon shares on a fully diluted basis, as well as SoftwareOne shareholder approval and regulatory approvals. The offer is not subject to any due diligence or financing condition. The Board of Directors of Crayon has unanimously resolved that it will recommend Crayon shareholders to accept the offer and the transaction is unanimously supported by the Boards of Directors of both companies. The tender offer period is from March 2025 / Q2 2025. SoftwareOne shareholders’ meeting for approval of issuance of new shares to Crayon shareholders is scheduled to be in Spring 2025. The completion of the transaction expected in Q3 2025. The transaction’s EPS accretion is expected to be around 25%, including implementation costs and phased synergies, and over 40% excluding implementation costs by 2026. As of February 4, 2025, The Swiss Financial Market Supervisory Authority (FINMA) has recognised Euronext Oslo Børs as foreign trading venue for trading of equity securities of Swiss listed companies, paving the way for a secondary listing of SoftwareOne’s shares on Euronext Oslo Børs in connection with the recommended voluntary offer for Crayon. The secondary listing will give Crayon shareholders who tender their shares the possibility to receive shares that are traded on Euronext Oslo Børs. The offer period is expected to commence in mid-March 2025, i.e., Voluntary recommended offer for Crayon to commence on or around March 17, 2025. As of March 14, 2025, the offer period will commenced at 16:30 CET, earlier than the previously announced start date of March 17, 2025, with SoftwareOne’s Extraordinary General Meeting brought forward to April 11, 2025 for the shareholders to vote at the upcoming EGM on the creation of a capital band required for the Crayon combination and election of Crayon co-founders Rune Syversen and Jens Rugseth as new Board members, subject to completion of the transaction. Till Spillmann nominated by the Board of Directors as new independent Chairman of the combined company, for election at the ordinary Annual General Meeting on May 16, 2025. As of March 21, 2025, Crayon transaction cleared by the Federal Cartel Office for Germany, one of the key markets of the combined company. As of March 28, 2025, the Financial Supervisory Authority of Norway has today approved a Prospectus Supplement to the Prospectus. As of March 31, 2025, ISS and Glass Lewis, recommend that shareholders vote in favour of the proposed creation of a capital band at SoftwareOne’s EGM, which is required to complete the recommended voluntary offer for Crayon. Completion of the transaction is now expected in June 2025 (previously expected in Q3 2025). As of April 11, 2025, A large majority shareholders of SoftwareOne have approved all proposals put forward by the Board of Directors in support of the planned acquisition of Crayon. Shareholders approved the creation of a capital band, authorising the BoD to issue up to 72.21 million fully paid-up registered shares with a nominal value of NOK 0.13 (CHF 0.01) each. These shares may be used to directly or indirectly deliver consideration shares to Crayon shareholders and to finance the acquisition of Crayon shares, respectively, in connection with the contemplated transaction. As of April 14, 2025, SoftwareOne controls a total of 59.286982 million shares or approximately 66.2% at the end of the initial acceptance period of its recommended voluntary share and cash offer for Crayon Group Holding. As of May 5, 2025, Softwareone Holding AG plans to no further extend the acceptance period and the period ends on May 6, 2025. As of June 10, 2025, all closing conditions – including required regulatory approvals – have been satisfied. Closing of transaction is expected on or about July 2, 2025. Walder Wyss Ltd, Wikborg Rein & Co and Freshfields LLP acted as legal advisor and Jefferies Financial as financial advisor to SoftwareOne. ABG Sundal Collier and Houlihan Lokey acted as financial advisor, Bär & Karrer and AGP Advokater acted as legal advisor and Arctic Securities acted as fairness opinion provider to Crayon Group Holding. SoftwareONE Holding AG (SWX:SWON) Completed the acquisition of Crayon Group Holding ASA (OB:CRAYN) from Rune Syversen, Jens Rugseth and others for NOK 10.8 billion on July 2, 2025. As part of the offer consideration, a total of 62,521,493 new SoftwareOne shares have been issued and received by accepting Crayon shareholders. Pareto Securities acted as Financial advisor to SoftwareOne in connection with the offer. Lenz & Staehelin acted as Legal advisor to SoftwareOne.

공시 • Dec 19

SoftwareONE Holding AG (SWX:SWON) proposed voluntary stock and cash offer to acquire Crayon Group Holding ASA (OB:CRAYN) from Rune Syversen and others for NOK 11.6 billion.

SoftwareONE Holding AG (SWX:SWON) proposed voluntary stock and cash offer to acquire Crayon Group Holding ASA (OB:CRAYN) from Rune Syversen and others for NOK 11.6 billion on December 19, 2024. In view of the transaction, SoftwareOne will make a voluntary offer to acquire all outstanding shares in Crayon pursuant to the Norwegian Securities Trading Act. The shareholders of Crayon will receive 0.8233 new shares in SoftwareOne and NOK 69 in cash for each share in Crayon. The implied offer value is NOK 144 per Crayon share, based on SoftwareOne’s undisturbed share price. The offer is based on an agreed valuation of Crayon at NOK 172.5 per share, which represents a 36% premium to the undisturbed share price, with a consideration of 40% cash and 60% shares. The share component assumes an exchange ratio based on an agreed valuation of SoftwareOne at CHF 10 per share, representing a 38% premium to the undisturbed share price. The issuance of up to 72 million new SoftwareOne shares to the accepting Crayon shareholders, representing up to 32% of SoftwareOne’s new total share capital, will require the approval by SoftwareOne shareholders. The transaction will be financed by investment grade bridge facilities of approximately NOK 8800 million (CHF 700 million) to fund the cash consideration and refinance Crayon’s existing debt. Following the transaction, SoftwareOne expects proforma net debt / adjusted EBITDA (including synergies and implementation costs) to be below 2.0x as at December 31, 2025. Full support of the transaction from the founding shareholders of SoftwareOne and Crayon, holding 29% and 5% of the share capital, respectively, with the SoftwareOne founding shareholders having pre-committed to vote in favour of the necessary resolutions at a SoftwareOne shareholders’ meeting and the Crayon founding shareholders having pre-committed to tender their shares in the offer. The parties have agreed that, as part of the transaction, Crayon will appoint two nominees to be proposed as additional members of the Board of Directors of SoftwareOne. The current Chief Executive Officer, Raphael Erb and Melissa Mulholland, will be Co-Chief Executive Officers of the combined company. The combined company will have its legal domicile in Stans, Switzerland. Post completion of the acquisition, the companies will explore the possibility of carrying out a dual listing of the consideration shares on the Oslo Stock Exchange. Such a dual listing will be subject to regulatory approvals by inter alia FINMA and the Oslo Stock Exchange. Launch of the offer is subject to the following conditions being satisfied: (a) the pre-acceptances shall remain valid and in full force; (b) absence of a material adverse change pertaining to Crayon; (c) the final approval of a combined offer document and prospectus by the Oslo Stock Exchange and the Financial Supervisory Authority of Norway, as applicable; (d) the Board of Directors of Crayon’s recommendation of the offer shall not have been withdrawn, modified or amended; (e) SoftwareOne having underwritten a warranty and indemnity insurance; and (f) Crayon shall in all material respects have complied with its obligations under the transaction agreement entered into between the parties on December 19, 2024, and there shall otherwise have been no material breach of the transaction agreement by Crayon which entitles SoftwareOne to terminate the transaction agreement pursuant to its terms. The transaction is also subject to customary conditions, including a minimum acceptance of the offer of at least 90% of Crayon shares on a fully diluted basis, as well as SoftwareOne shareholder approval and regulatory approvals. The offer is not subject to any due diligence or financing condition. The Board of Directors of Crayon has unanimously resolved that it will recommend Crayon shareholders to accept the offer and the transaction is unanimously supported by the Boards of Directors of both companies. The tender offer period is from March 2025 / Q2 2025. SoftwareOne shareholders’ meeting for approval of issuance of new shares to Crayon shareholders is scheduled to be in Spring 2025. The completion of the transaction expected in Q3 2025. The transaction’s EPS accretion is expected to be around 25%, including implementation costs and phased synergies, and over 40% excluding implementation costs by 2026. Jefferies is acting as sole financial advisor to SoftwareOne. Hans-Jakob Diem, Iliana Djagova and Thomas Meister of Walder Wyss is acting as legal advisor to SoftwareOne, with Wikborg Rein advising as to Norwegian law and Freshfields as to regulatory matters. ABG Sundal Collier and Houlihan Lokey are acting as financial advisors and AGP Advokater is acting as legal advisor to Crayon.

이자보상배율	4.7x
현금	CHF 419.10m
자본	CHF 981.40m
총부채	CHF 5.81b
총자산	CHF 6.79b

데이터	최종 업데이트 (UTC 시간)
기업 분석	2026/05/21 12:07
종가	2026/05/21 00:00
수익	2025/12/31
연간 수익	2025/12/31

패키지	데이터	기간	미국 소스 예시 ^*
기업 재무제표	10년	손익계산서 현금흐름표 대차대조표	SEC 양식 10-K SEC 양식 10-Q
분석가 컨센서스 추정치	+3년	재무 예측 분석가 목표주가	분석가 리서치 보고서 Blue Matrix
시장 가격	30년	주가 배당, 분할 및 기타 조치	ICE 시장 데이터 SEC 양식 S-1
지분 구조	10년	주요 주주 내부자 거래	SEC 양식 4 SEC 양식 13D
경영진	10년	리더십 팀 이사회	SEC 양식 10-K SEC 양식 DEF 14A
주요 개발	10년	회사 공시	SEC 양식 8-K

분석가	기관
Andreas Wolf	Berenberg
Ben Castillo-Bernaus	BNP Paribas
Ines Mao	BNP Paribas

SoftwareOne Holding 대차대조표 건전성

재무 건전성 기준 점검 5/6

핵심 정보

최근 재무 건전성 업데이트

SoftwareONE Holding (VTX:SWON) Seems To Use Debt Quite Sensibly

Recent updates

Upcoming dividend of CHF0.15 per share

SWON: Higher Margins And New Cloud Distribution Role Will Support Upside Repricing

SWON: Higher Margins And New Cloud Distribution Role Will Support Rerating

SWON: Future Crayon Integration Progress Will Drive Reassessment Of Equity Upside

Shareholders Will Be Pleased With The Quality of SoftwareOne Holding's (VTX:SWON) Earnings

Dividend of CHF0.15 announced

New minor risk - Earnings quality

Full year 2025 earnings released

SWON: Crayon Integration Progress Will Drive Rerating Despite Vendor Incentive Pressure

SWON: Crayon Integration Execution Will Offset Vendor Incentive Headwinds

SWON: Crayon Integration Execution Will Overcome Vendor Incentive Headwinds

SWON: Crayon Integration Progress Will Offset Vendor Incentive Headwinds

Investors Aren't Entirely Convinced By SoftwareOne Holding AG's (VTX:SWON) Revenues

SWON: Crayon Integration Progress Will Drive Future Earnings Power

SWON: Higher Future P/E Assumptions Will Support Stronger Earnings Power

SoftwareOne Holding AG, Annual General Meeting, May 22, 2026

SWON: Rising Revenue Quality Will Drive Stronger Margins And Share Price Upside

SoftwareOne Holding AG to Report Fiscal Year 2025 Results on Mar 31, 2026

Are Investors Undervaluing SoftwareOne Holding AG (VTX:SWON) By 44%?

Analyst Commentary Highlights Modest Optimism as SoftwareOne Holding Sees Slight Price Target Increase

Cloud Migration And Global Expansion Will Unlock Long-Term Value

Investors Still Aren't Entirely Convinced By SoftwareOne Holding AG's (VTX:SWON) Revenues Despite 29% Price Jump

First half 2025 earnings released: EPS: CHF0.065 (vs CHF0.18 in 1H 2024)

High number of new and inexperienced directors

Market Cool On SoftwareOne Holding AG's (VTX:SWON) Revenues

New major risk - Shareholder dilution

SoftwareONE Holding AG (SWX:SWON) Completed the acquisition of Crayon Group Holding ASA (OB:CRAYN) from Rune Syversen, Jens Rugseth and others for NOK 10.8 billion.

Upcoming dividend of CHF0.30 per share

Softwareone Holding AG Proposes Dividend

Full year 2024 earnings: EPS and revenues miss analyst expectations

SoftwareONE Holding AG, Annual General Meeting, May 16, 2025

SoftwareONE Holding AG Announces Not to Stand Re-Election of Daniel Von Stockar as Member of the Board of Director

Crayon Integration And New Partnerships Expected To Drive Future Growth

Full year 2024 earnings: EPS and revenues miss analyst expectations

SoftwareONE Holding AG to Report Fiscal Year 2024 Results on Feb 19, 2025

Price target decreased by 11% to CHF9.91

SoftwareONE Holding AG (SWX:SWON) proposed voluntary stock and cash offer to acquire Crayon Group Holding ASA (OB:CRAYN) from Rune Syversen and others for NOK 11.6 billion.

SoftwareONE Reportedly Near Deal to Acquire Crayon Group

Investor sentiment deteriorates as stock falls 17%

Consensus EPS estimates fall by 12%

Investor sentiment improves as stock rises 19%

Consensus EPS estimates fall by 14%

Consensus EPS estimates fall by 11%

Investor sentiment deteriorates as stock falls 41%

Consensus EPS estimates fall by 16%

First half 2024 earnings: EPS and revenues miss analyst expectations

Now 20% undervalued after recent price drop

Now 21% undervalued

Apax, Bain, CVC Reportedly Explores Potential Bids for SoftwareOne

Less than half of directors are independent

Funds managed by Bain Capital Private Equity (Europe), LLP cancelled the acquisition of SoftwareONE Holding AG (SWX:SWON) from Daniel von Stockar, B. Curti Holding AG and René Gilli and others.

Bain Capital Reportedly to Mull Fresh Bid for SoftwareONE, If Board Ousted

Full year 2023 earnings: EPS misses analyst expectations

Daniel von Stockar Requests SoftwareOne to Convene an Extraordinary General Meeting

SoftwareONE Holding AG Appoints Rohit Nagarajan as Chief Revenue Officer

SoftwareONE Holding AG, Annual General Meeting, May 02, 2024

SoftwareONE Holding AG to Report First Half, 2024 Results on Aug 21, 2024

Bain Capital Reportedly Remains Sole Contender for Swiss SoftwareONE

SoftwareONE Holding AG to Report Fiscal Year 2023 Final Results on Mar 28, 2024

SoftwareONE Holding AG to Report Fiscal Year 2023 Results on Feb 15, 2024

SoftwareOne Holding AG Announces Appointment of Sonia Caso as Regional President Latin America

Now 20% undervalued

First half 2023 earnings released: EPS: CHF0.22 (vs CHF0.41 loss in 1H 2022)

Bain Capital Reportedly Raises SoftwareONE Takeover Offer to $3.7 Billion

SoftwareONE Holding AG (SWX:SWON) completed the acquisition of Beniva Consulting Group Inc.

New minor risk - Share price stability

Bain Capital Europe Fund III, L.P. Fund managed by Bain Capital Private Equity (Europe), LLP and its affiliates agreed to acquire SoftwareONE Holding AG (SWX:SWON).

Returns On Capital At SoftwareONE Holding (VTX:SWON) Paint A Concerning Picture

SoftwareONE Holding AG (SWX:SWON) agreed to acquire Beniva Consulting Group Inc.

Upcoming dividend of CHF0.35 per share at 2.6% yield

Full year 2022 earnings: EPS and revenues miss analyst expectations

SoftwareONE Holding (VTX:SWON) Has Announced That It Will Be Increasing Its Dividend To CHF0.35

Full year 2022 earnings: Revenues miss analyst expectations

SoftwareONE Holding (VTX:SWON) Could Be Struggling To Allocate Capital