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Bain’s 3.2 billion euro acquisition of SoftwareOne is definitely off the table. After SoftwareOne decided in mid-January to turn down the offer, rebellious shareholders have now also rejected the non-binding deal.

A trio of shareholders attempted to sideline SoftwareOne’s board in February. By doing so, Daniel von Stockar, Curti Holding AG and René Gilli hoped to still win over the Bain takeover. Together, they own 29 percent of SoftwareOne.

Turning down offer

The other shareholders disagreed with this trio. Now, this group has decided to terminate the non-binding agreement with Bain Capital, as Reuters reports. “Since the current Board of Directors of SoftwareOne rejected Bain Capital’s latest offer in January 2024, it has been clear that there is no scope for a going-private transaction under the current circumstances.”

However, they plan to meet with the other shareholders to still make any changes to the SoftwareOne board.

VMware partner

A lot is already taking place behind the scenes at SoftwareOne, but there are also a lot of changes outside the company that will be faced. SoftwareOne is a leading VMware partner, so it has challenges surrounding the changes Broadcom has made to VMware. However, SoftwareOne is helping its customers navigate these changed offerings. We recently spoke at length with this company about it.

Also read: Broadcom is the boss at VMware and knows exactly how to optimize it