WWT Acquires Softchoice for $1.25 Billion
World Wide Technology (WWT) is acquiring Canadian IT provider Softchoice for $1.25 billion. This all-cash deal, pending shareholder and court approval, is expected to close in Q1 or early Q2 2025. Softchoice's expertise in software, cloud, cybersecurity, and AI complements WWT's existing portfolio. Learn more about tech industry acquisitions.
Softchoice, founded in 1989, has grown into a major North American tech solutions provider. Previously acquired by Birch Hill in 2013, Softchoice went public on the TSX in 2021. The company's recent financials show strong performance, with increased gross profit and net income in Q3 2024. See how this compares to other tech company financials.
WWT's offer represents a 62% return over Softchoice's IPO price. Upon deal completion, Softchoice will delist from the TSX. This acquisition strengthens WWT's position in the tech services market, expanding its offerings and reach. Explore the evolving landscape of the tech industry.
Founded in 1990, WWT provides tech solutions for cloud computing, data center infrastructure, and app development. With over 10,000 employees and about $20 billion in annual revenue, WWT has made only two prior acquisitions: Performance Technology Group in 2010 and Asynchrony in 2015.