SoftwareOne speeds up Crayon merger with secondary listing application

Completion of the transaction on track for June 2025 instead of Q3 FY25

SoftwareOne is to apply for a secondary listing of its shares on Euronext Oslo Børs, as the reseller carries on with its buyout of Crayon.

This secondary listing will provide Crayon’s stockholders with the possibility to receive shares that are traded on Oslo Børs, the Norwegian stock exchange part of pan-European group Euronext.

The Swiss financial market supervisory authority (FINMA) has also recognised Euronext Oslo Børs as a foreign trading venue for trading of equity securities of Swiss-listed companies, confirming SofwareOne’s intention to apply for a secondary listing of its shares on Euronext Oslo Børs, as per the recommended voluntary offer for Crayon.

“The envisaged secondary listing on Euronext Oslo Børs is an important element in bringing SoftwareOne and Crayon together,” said Raphael Erb, CEO of SoftwareOne.

“It ensures that Crayon shareholders can seamlessly participate in the combined company’s future, while underlining our commitment to the Norwegian market.

“We look forward to proceeding with the offer, together creating a stronger company that drives significant shareholder value.”

Melissa Mulholland, CEO of Crayon, added: “Since the IPO in 2017, Euronext Oslo Børs has been an integral part of Crayon’s journey and we remain fully committed to continuing to deliver value to our shareholders when we join forces with SoftwareOne.”

The offer period is anticipated to commence in mid-March 2025, with the transaction now expected to be completed in June this year (previously scheduled for Q3 FY25).

The merger was announced in December last year, in a move to create a global powerhouse with a revenue base of CHF 1.6bn (£1.42), shortly after SoftwareOne first shared it was in advanced discussions to buy the Norwegian reseller for a consideration of cash and shares.

The fusion between the Swiss reseller and the Oslo-based business has for mission “to enhance the breadth, depth, and support” provided to both “customers and partners,” wrote Mulholland in a LinkedIn post at the time.