SoftwareOne Expands with Crayon Acquisition
Deal News | Dec 20, 2024 | EIN
Swiss software and cloud solutions company, SoftwareOne, has announced its acquisition of Norwegian firm Crayon, a leading distributor of cloud services in the Nordic region. The transaction is structured as a mixture of cash and stock, with Crayon shareholders receiving 0.8233 new shares in SoftwareOne and NKr69 ($6.03) for each share of Crayon they hold. This offer values each Crayon share at NKr144, marking a 13% premium over its previous market value. The merger aims to create a company with a combined revenue of approximately SFr1.6bn ($1.78bn) operating across 70 countries, employing around 13,000 people. The combined company plans to tap into the $150bn market driven by public cloud adoption and enhanced demand for cloud spend management, AI, and security solutions. Conditions for the acquisition's completion include a 90% acceptance rate of Crayon shares and necessary regulatory approvals, with completion expected in Q3 2025. The strategic acquisition will deepen SoftwareOne's market presence and enhance its service offerings, focusing on expanding its footprint and capabilities in the SME sector.
Sectors
- Software and Cloud Solutions
- Information Technology Services
Geography
- Switzerland – SoftwareOne is headquartered in Stans, Switzerland, highlighting the geographical base for one of the companies in the transaction.
- Norway – Crayon is based in Oslo, Norway, pointing to the geographical location of the other participant in the merger.
Industry
- Software and Cloud Solutions – The industry focuses on providing software licenses and cloud-based services, which is the core business of both SoftwareOne and Crayon.
- Information Technology Services – Pertains to companies that offer technology services, including consulting, support, and implementation, which SoftwareOne and Crayon specialize in.
Financials
- NKr144 – The offer price per Crayon share, representing a 13% premium over its undisturbed share price.
- SFr1.6bn ($1.78bn) – Estimated combined revenue of the merged SoftwareOne and Crayon entity.
- $150bn – The value of the addressable market that the merged entity aims to capitalize on.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| SoftwareOne | Bidding Company | Company | A Swiss provider of software and cloud solutions, acquiring Crayon to expand its global reach. |
| Crayon | Target Company | Company | A Norwegian distributor of cloud licenses, being acquired by SoftwareOne in the announced transaction. |
| Raphael Erb | CEO of SoftwareOne | Person | Chief executive officer of SoftwareOne, discussing the strategic benefits of the merger. |
| Melissa Mulholland | CEO of Crayon | Person | Chief executive officer of Crayon, speaking on the growth potential from the merger. |