In a surprising turn of events, the founding shareholders of Software One have launched a rebellion against the board of directors, with Daniel von Stockar leading the charge. The group, which holds around 29 percent of the shares, has formed an alliance with Bain Capital, a financial investor who proposed taking over the company and delisting it from the stock exchange.
Despite initial resistance from the old board of directors, the rebellion was successful and von Stockar will now head the new management body. The plan is to develop Software One without the pressure from the financial market and improve its strategy for future growth. According to von Stockar, Software One went public too early in 2019 and has not met expectations since.
The big question now is whether Bain Capital will launch a new official takeover offer. While the last offer was rejected by the old board of directors, some founding shareholders are interested in selling some of their securities to Bain Capital. The company’s strategy under CEO Brian Duffy includes expanding advice to corporate customers and helping them organize data transmission in the cloud. This consulting segment is growing faster than classic reselling and is expected to contribute more to sales in the future.
Overall, Software One is on track operationally but has become sluggish and risk-averse according to its founding shareholders. With von Stockar at the helm and potentially under new ownership by Bain Capital, Software One aims to regain its drive and focus on growth. The future of this company remains uncertain as they await a possible new offer from Bain Capital while navigating changes in leadership and strategy.