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SoftwareOne says discussions with potential buyers ongoing
Aug 21, 2024 12:37 AM

ZURICH, Aug 21 (Reuters) - SoftwareOne 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.

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 ( MSFT ), SAP and Adobe,

flagged the approaches in May and has set up a committee to

examine the matter.

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