By Nina Kienle
SoftwareOne Holding named former SAP executive Rohit Nagarajan as president and chief revenue officer, and said it continues in takeover talks with private-equity firm Bain Capital.
The Switzerland-based software and cloud solutions provider said Monday that its board expects to conclude discussions and provide an update on the outcome of the strategic review to shareholders by the end of January. The talks with Bain may or may not lead to an offer, SoftwareOne said.
The company issued an update on the status of its strategic review in response to media reports. Bloomberg on Friday reported, citing unnamed sources, that Bain’s bid for SoftwareOne stalled after its latest proposal of almost 3 billion Swiss francs ($3.53 billion) failed to win support from the target’s board.
SoftwareOne launched a strategic review in July after it rejected an unsolicited proposal from Bain.
Separately, SoftwareOne said Nagarajan, who previously headed SAP’s operations across northern Europe, will join its executive team with immediate effect and will focus on sales and on identifying strategic growth initiatives.
Write to Nina Kienle at [email protected]
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