11 Subsequent events
From the balance sheet date until the interim consolidated financial statements were approved by the Board of Directors on 15 September 2020, the following significant events occurred:
Acquisitions
On 10 July 2020, the group acquired 100% of the shares of B-Lay B.V., the Netherlands (“B-Lay”), a leading provider of software asset management advisory and managed services for SAP and Oracle solutions with subsidiaries in the US and Romania. An amount of TCHF 2,140 was paid in cash. As part of the purchase agreement, a contingent consideration arrangement was agreed that could result in additional cash payments to the previous owners of B-Lay. The amount of the payments depends on EBITDA development for 2021 to 2023 and a multiplier derived from other variables. SoftwareONE did not finalize the provisional purchase price allocation at the time of preparing the interim condensed consolidated financial statements.
Free Share Grant
On 31 July 2020, 481,600 free shares were granted at a fair value of CHF 23.40 per share.
Employee Share Purchase Plan
The program allows eligible SoftwareONE employees to participate in a sponsored ESPP. All permanent SoftwareONE employees, including part-time employees, are entitled to participate. Participants are able to make periodic contributions to acquire investment shares at the respective market price over a purchase period, which will generally be one year. At the end of the purchase period, participants receive free matching shares based on the number of investment shares bought during the purchase period and held until the end of the purchase period. For every four investment shares acquired, SoftwareONE grants each employee one matching share free of charge. The matching shares granted represent an equity-settled share-based payment and are recognized over a service period ending 12 months after the purchase period.
On 7 August 2020, 19,201 matching shares were granted at a fair value of CHF 23.85 per share.