Canadian IT services provider Softchoice is set to be acquired by digital infrastructure provider World Wide Technology (WWT). The all-cash deal will see St. Louis-based WWT pay CA$24.50 per share to acquire Softchoice. The deal has been approved by the Softchoice board, and will now require the thumbs up from shareholders.
“We are excited to join WWT,” Caprara said. “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. “I believe WWT is the ideal partner for our customers and employees, and I’m excited about our future as a combined firm.”
Softchoice, which was founded in 1989, has been listed on the Canadian Stock Exchange since 2021, when it IPO’d at a value of CA$1.15 billion ($800m). It will be delisted if the deal goes through. The acquisition is expected to close in the first half of 2025, and if it collapses Softchoice will be liable for a CA$49 million ($34m) termination fee.
