Germany approves SoftwareOne and Crayon merger
Till Spillmann becomes chairman of the combined company
The Federal Cartel Office (Bundeskartellamt), Germany's national competition regulatory agency, has approved SoftwareOne’s merger with Crayon.
DACH is SoftwareOne’s main market, with a revenue of CHF 301.1m (£264m) in FY24, representing 29.6 per cent of the company’s global earnings.
The approval follows the launch of a recommended voluntary share and cash offer for Crayon on 14 March, three days before the initial start date.
The transaction is now expected to be completed in June 2025.
Leadership reshuffle
Further changes to the combined businesses’ leadership team have also been announced.
Till Spillmann, member of the board of directors since April 2024 and chair of the board’s transaction committee, has been named new independent chairman of the combined company.
He will replace Daniel von Stockar, who will run for re-election as member of the board of directors.
Spillmann is also a partner at private investment firm Argon Management, which he co-founded in 2024.
He also co-created investment company Actium in 2014.
Prior to his founder journey, he worked as a partner at Niederer Kraft Frey, as well as a managing partner at Baer & Karrer.
He started his career in 1997 at McKinsey and Company as a student trainee.
The board of directors also proposed the election of Crayon co-founders Rune Syversen and Jens Rugseth as new board members.
Syversen currently serves as chairman of the board of directors at both Crayon and Cyviz.
He also held the role of CEO of Crayon from 2002 to 2019.
Prior to launching the company, he worked as department manager then CEO of Norwegian telecoms company Telenor Group.
He reportedly played “a key role” in the creation and growth of Link Mobility and Sikri.
Syversen also used to work as sales director at CA Technologies and has been the owner of Oslo-based venture capital Karbon Invest AS since 2019.
Rugseth is also a current member of the board of directors of Crayon.
In addition to his ongoing position, he’s a member of the board at Link Mobility, Techstep, Spir Group, and Karbon Invest AS.
He previously worked as CEO for various Norwegian IT companies, such as ARK, Cinet, and Skrivervik Data.
“The combination with Crayon represents a compelling opportunity to create value for our shareholders, and we are well underway with the transaction,” said von Stockar.
“The approval of the capital band is a critical step in executing our long-term vision.
“I am convinced that Rune and Jens will make valuable contributions to our board with their entrepreneurial drive and industry experience.
“As we work to realise the full potential of the combination, I am confident that SoftwareOne will be well-positioned for this next chapter under Till’s leadership as chairman of the combined company.”