(Bloomberg) -- SoftwareOne Holding AG said it is pursuing talks on a potential sale with a number of parties as it missed earnings estimates and cut its full-year revenue guidance.
The company was approached earlier this year regarding a potential going-private transaction. “Discussions, although challenging given the general business development, are progressing,” it said in a statement Wednesday.
SoftwareOne reported adjusted EBITDA of 121.9 million francs ($142.7 million) for the first half, slightly below the average analyst estimate. It lowered its full-year revenue growth guidance to 7-9% from 8-10% previously, citing macroeconomic uncertainty affecting client behavior.
SoftwareOne shares fell as much as 5.3%, the steepest intraday drop since Jan. 15, almost erasing the stock’s year-to-date gains.
The Stans, Switzerland-based reseller of software licenses has repeatedly been a target of take-private discussions, though its previous board rejected a 3 billion-franc offer from Bain Capital in January and promised to remain independent.
It said it is open to bidders and established a transaction committee after founding shareholder Daniel Von Stockar was elected chairman in April when the previous board was ousted over the rejected offer. Current bidders include Apax, CVC, and Bain, Reuters reported.
--With assistance from Paul Jarvis.
(Updates with share price in fourth paragraph)
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