SoftwareONE is the largest license reseller of U.S. software giant Microsoft Corp. While the company has not yet set pricing for the offering, it will be compared in marketing to a peer group including EPAM Systems Inc and Softcat Plc that trades at about 21 times enterprise value to Ebitda, according to a person familiar with the matter. Based on SoftwareONE's pro-forma adjusted Ebitda of 187 million francs for 2018, the company's enterprise value would work out to as much as 4 billion francs on that basis. Related: Data Center Firm Global Switch Shelves IPO as Economy Stutters SoftwareONE's Chief Financial Officer Hans Grueter declined to comment on the enterprise value at a press conference in Zurich. The dividend payout ratio is expected to be at around 30% or higher, Chairman Daniel von Stockar said in an interview with Swiss news agency AWP. SoftwareONE currently employs over 5,300 employees in 90 countries.