SoftwareOne: Crayon Deal on Track for June Completion

SoftwareOne Holding AG, the leading global provider of software and cloud solutions, is on track to close its acquisition of Crayon Group Holding ASA in June. The deal, announced in December 2024, is expected to create a combined company with a total revenue of approximately CHF 1.6 billion, presence across 70+ countries, and around 13,000 employees. This merger is set to position the combined entity as a preferred partner to both customers and vendors globally, driving additional growth and significant value creation for shareholders.



The acquisition is expected to deliver substantial synergies, with run-rate cost synergies of CHF 80-100 million to be reached within 18 months of completion, incremental to SoftwareOne's previously announced cost savings of over CHF 50 million. These synergies will be achieved through scale and efficiency across currently sub-scale local operations, integration of offices and functions, a scalable transactional platform with shared service centers, increased sales efficiency, and improved utilization of the combined services delivery network. Additionally, significant revenue synergies have been identified, including expanded customer access, particularly to larger customer accounts, based on combined capabilities, certifications, and authorizations. Cross- and upsell opportunities are also expected from the enhanced services offering, further boosting the combined company's growth prospects.

The transaction is highly value accretive for shareholders, with EPS accretion around 25% by 2026, and over 40% excluding implementation costs. The full support of the transaction from the founding shareholders of both companies, holding 29% and 5% of the share capital, respectively, further validates the potential value creation for shareholders. The completion of the transaction is expected in Q3 2025, subject to customary conditions, including a minimum acceptance of the offer of at least 90% of Crayon shares on a fully diluted basis, as well as SoftwareOne shareholder approval and regulatory approvals.



In conclusion, the acquisition of Crayon by SoftwareOne is on track for a June completion, with the combined company poised to capitalize on the USD 150 billion addressable market, driven by mega-trends such as public cloud adoption and increased focus on managing cloud spend, data & AI, and security. The merger is expected to deliver substantial synergies, driving accelerated growth and improved profitability for the combined entity. Shareholders can look forward to significant value creation, with EPS accretion around 25% by 2026, and over 40% excluding implementation costs. The full support of the founding shareholders of both companies further validates the potential of this strategic combination.