The operation results in a group with 13,000 employees, presence in over 70 countries, and a combined revenue of 1.6 billion Swiss francs.
SoftwareOne Holding AG (SIX: SWON) announced on July 3, 2025, the official completion of the acquisition of Crayon, having successfully fulfilled its voluntary public tender offer for 100% of the Norwegian company’s outstanding shares. This agreement brings together two leading global providers of software solutions and cloud services, marking a milestone in the consolidation of the European tech sector.
Headquartered in Switzerland and Norway, respectively, SoftwareOne and Crayon now have a combined revenue nearing 1.6 billion Swiss francs and a team of about 13,000 professionals spread across more than 70 countries. The integration of both structures officially begins today, following months of joint preparation in areas such as strategy, finance, technology, people, and systems.
A Strategic Operation Backed by the Market
The deal includes a payment of 69 Norwegian crowns in cash and 0.8233 new shares of SoftwareOne for each share of Crayon, a proposal accepted by the majority of the shareholders of the Scandinavian firm. Following the transaction, a total of 62.5 million new shares of SoftwareOne have been issued and have started trading on the Oslo Stock Exchange (Euronext Oslo Børs) under the ticker SWON.
Additionally, SoftwareOne plans to carry out a mandatory buyout of the remaining shares and proceed with Crayon’s delisting from the Norwegian stock exchange in the coming weeks.
Synergies Valued at Up to 100 Million Annually
From a financial standpoint, the Swiss company estimates generating annual cost synergies worth between 80 and 100 million Swiss francs within 18 months. This savings will be in addition to the cost reduction program already implemented in the first quarter of 2025.
The deal was initially financed through a bridge loan of 700 million Swiss francs, which will be refinanced with a long-term debt structure. The net debt/adjusted EBITDA ratio is expected to be below 2.0x by the end of 2025. SoftwareOne will maintain its dividend policy, with a payout ratio of 30% to 50% of adjusted net income.
Strong Commitment to Digital Transformation and AI
The merger between SoftwareOne and Crayon reinforces the new group’s position as a strategic partner for both enterprise clients and leading technology providers worldwide, including Microsoft, AWS, and Google Cloud. The new company will be equipped to support its clients in their digital transformation, application modernization, cloud investment optimization, and deployment of artificial intelligence solutions.
"Today is a pivotal moment on our journey: we are joining forces to create a global leader in software and cloud solutions with worldwide reach and local capabilities," stated Raphael Erb, Co-CEO of SoftwareOne. His counterpart in the leadership, Melissa Mulholland, emphasized that "we are ready from day one to create significant value for our clients and employees in this new joint phase."
From Microsoft, one of the main tech partners of both companies, global partner director Nicole Dezen positively assessed the operation: "Together, SoftwareOne and Crayon become one of our largest global allies, with greater technical depth and operational reach to serve our shared clients."
Unified Corporate Identity
While the Crayon brand will be maintained for a transitional period to ensure continuity, the unified company will operate under the name and logo of SoftwareOne, integrating cultural and experiential elements from both firms. The legal headquarters will remain in Stans (Switzerland), while Oslo will continue to be a relevant center for commercial operations and corporate functions.
Next Steps
On August 28, 2025, SoftwareOne will present the already consolidated financial results for the first half of the year, as well as forecasts for the second half. The operational integration process will continue over the next few quarters, aiming to harmonize business models, IT systems, and legal structures in the countries with joint presence.
The transaction was advised financially by Jefferies, Pareto Securities, ABG Sundal Collier, and Houlihan Lokey. Legal aspects were coordinated by the law firms Walder Wyss, Wikborg Rein, Freshfields, Lenz & Staehelin, and AGP Advokater.
via: SoftwareONE