Softchoice Corporation and World Wide Technology Holding Co., LLC, a global technology solutions and services provider, are pleased to announce that they have entered into an arrangement agreement for Softchoice to be acquired by WWT, via an all-cash transaction, which values Softchoice at an enterprise value of approximately C$1.8 billion. Shareholders, including each of the directors and senior officers of Softchoice, which collectively represent approximately 51.3% of Softchoice’s issued and outstanding common shares, have entered into voting support agreements pursuant to which such shareholders have agreed, among other things, to support and to vote all shares held by them in favour of the Transaction.
Andrew Caprara, Softchoice President and Chief Executive Officer commented on the announcement: “We are excited to join WWT. Its scale and global reach, customer base of large organizations, and industry leading infrastructure solutions are a perfect complement to our software and cloud focused solutions, our Canadian presence, and our strength in the North American mid-market. We also share similar Great Place to Work® certified organizational cultures, demonstrating an aligned passion for our people. I believe WWT is the ideal partner for our customers and employees and I’m excited about our future as a combined firm.”
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Jim Kavanaugh, WWT Co-Founder and Chief Executive Officer noted: “As the AI revolution reshapes industries and transforms businesses worldwide, we are at the forefront of this change – leading by empowering enterprises of all sizes to achieve better business outcomes. Softchoice has been a transformative player in the IT industry for over 35 years, and adding its complementary software, cloud, cybersecurity and AI capabilities to WWT’s portfolio will enable us to create even greater value for our clients striving to achieve their digital transformation goals.”
David Steward, WWT Founder and Chairman added: “This acquisition strengthens our access to Commercial, Small and Medium business customers while expanding WWT’s position in the U.S., Canada, and around the world. Given our shared mission and Great Place to Work® designations, we will continue our commitment to building a culture of innovation and inclusion to be a great place to work for all.”
Source: Businesswire