SoftwareOne Is Said to Weigh Deal for Crayon as Apax Closes In

(Bloomberg) — SoftwareOne Holding AG, the Swiss technology firm that’s considering a sale of itself, is also exploring a potential combination with smaller Norwegian competitor Crayon Group Holding ASA, people familiar with the matter said. 

Apax Partners, which has emerged as the leading bidder for SoftwareOne, and the company’s key shareholders have been discussing various structures that would allow them to take both SoftwareOne and Crayon private and combine the two firms, the people said. 

Shares of Crayon have risen 32% in Oslo trading this year, giving it a market capitalization of about $942 million. SoftwareOne shares have fallen 6% in Zurich over the period, valuing it at 2.4 billion Swiss francs ($2.9 billion).

Deliberations are ongoing and there’s no certainty any deal will result, the people said. Representatives for Apax, Crayon and SoftwareOne declined to comment. 

SoftwareOne last month said it is pursuing talks on a potential sale with a number of parties, saying the “discussions, although challenging given the general business development, are progressing.”

The Stans, Switzerland-based reseller of software licenses has repeatedly been a target of take-private discussions. Its previous board rejected a 3 billion-franc offer from Bain Capital in January and promised to remain independent. Since then, the board has been replaced and founding shareholder Daniel von Stockar was elected chairman. 

Bloomberg News reported in June last year that Crayon was exploring options including a potential sale. 

–With assistance from Ott Ummelas.

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