Updated 15 February 2024 at 13:24 IST
SoftwareOne unveils growth plan amid shareholder bids to sell
Company reported a solid performance, with group revenue for 2023 reaching approximately 1.01 billion Swiss francs.
SoftwareOne growth plans: Switzerland-based IT services provider SoftwareOne announced a strategic plan on Thursday aimed at boosting growth and earnings over the next three years. This move comes as the company faces pressure from its major shareholders to sell the firm.
Last week, the three founding shareholders initiated a bid to remove the board in an effort to delist the company through a sale to US investor Bain Capital.
Revenue growth
Despite this, SoftwareOne reported a solid performance, with group revenue for 2023 reaching approximately 1.01 billion Swiss francs ($1.14 billion), an 8 per cent increase from the previous year. To further drive revenue growth, the company intends to leverage its global presence and capitalise on the growing software and cloud markets.
"We are uniquely positioned to capture the growth opportunity in the rapidly expanding software and cloud market," said CEO Brian Duffy.
Looking ahead, SoftwareOne aims for revenue growth of 8–10 per cent in 2024 and plans to accelerate this to the'mid-teens' by 2026, aligning with its previous mid-term guidance.
(with Reuters inputs)
Published By : Priyanshi Mishra
Published On: 15 February 2024 at 13:24 IST