Chairman’s letter to shareholders
In December 2024, we announced the combination with Crayon, bringing together two highly complementary global leaders with shared core values. The Board fully endorses the acquisition. It is the right next step in an industry which continues to evolve and consolidate.
Daniel von Stockar, Chairman of the Board of Directors
Dear shareholders,
As a pioneer in the software industry, SoftwareOne’s growth journey over the past 25 years has been fuelled by our strong values and a deep commitment to serving our customers with excellence. During this time, the company achieved true global reach, extended its services portfolio to complement its reselling business, and more recently, invested in its scalable platform. While I am proud of these achievements, SoftwareOne has recently lost some of its entrepreneurial spirit and agility. The organisational structure has become too complex and overly centralised in recent years, contributing to the underperformance versus market expectations we have seen. It is clear that SoftwareOne needed a new sense of direction.
Since the election of a new Board of Directors at the Annual General Meeting in April 2024, we have made leadership changes at the Executive Board level and taken decisive action to restore client-centricity, reduce complexity and drive sustainable, profitable growth. It will take some time, but we have put all the pieces in place to return to a growth trajectory. In December 2024, we announced the combination with Crayon, bringing together two highly complementary global leaders with shared core values. The Board fully endorses the acquisition. It is the right next step in an industry which continues to evolve and consolidate.
Well-positioned to capitalise on industry mega-trends
SoftwareOne remains well-positioned to capitalise on industry mega-trends, including continued adoption of public cloud, by leveraging its large client base, world-class advisory capabilities and highly qualified employees. As the level of complexity continues to increase, SoftwareOne’s value proposition is more relevant than ever, with customers requiring support around critical topics such as maximising the ROI of software and cloud spend and leveraging data and AI. At the same time, the company’s global reach and capabilities continue to strengthen its unique stance as a preferred channel partner and scaling engine for the hyperscalers and other vendors.
The right leadership and strategy
As SoftwareOne begins a new chapter, Raphael Erb is the right CEO to lead the company based on his intimate understanding of our clients’ needs and the industry, as well as his excellent track record, most recently in building up the fast-growing APAC region. We are confident that under his stewardship, the sales execution issues we experienced due to the rushed implementation of our new go-to-market model will soon be resolved and reflected in improved group performance. The swift implementation of the CHF 50 million cost reduction programme announced in November 2024 is a testament to the new leadership team’s execution capabilities and discipline.
Combination with Crayon – creating significant value for shareholders
With around 13,000 employees across 70+ countries, the combined company – subject to required approvals – will be excellently positioned to drive growth and significant value creation for shareholders based on substantial identified revenue and cost synergies. Our joint success will be driven by a combined team, led by Raphael Erb and Melissa Mulholland. They share deep industry knowledge and experience, as well as complementary individual strengths, and are fully aligned on the strategic trajectory and their respective roles in achieving smooth integration.
We also look forward to working closely with Crayon’s co-founders Rune Syversen and Jens Rugseth, who will be proposed for election to SoftwareOne’s Board of Directors, subject to completion of the transaction. Rune’s deep expertise in the global IT, data services, and financial sectors, coupled with Jens’ strong background in founding and leading successful IT companies, will provide fresh perspectives and strategic insights.
On behalf of the entire Board of Directors, I would like to thank our employees around the world for their continued hard work and dedication at a time of change and our clients for their loyalty.
Finally, I thank you, our shareholders, for your trust, support, and investment in SoftwareOne.
Yours sincerely,
Daniel von Stockar
Chairman of the Board of Directors