Softchoice and World Wide Technology Announce Definitive Acquisition Agreement
TORONTO & ST. LOUIS–Softchoice Corporation, a leading Canadian software and cloud-focused IT solutions provider, and World Wide Technology Holding Co., LLC, a global technology solutions provider, have entered into a definitive arrangement agreement for Softchoice to be acquired by WWT through an all-cash transaction.
The deal values Softchoice at an enterprise value of approximately C$1.8 billion, with shareholders receiving C$24.50 per share in cash. This represents a 62% total shareholder return from the company’s initial public offering price and premiums of 14% and 32% over recent market prices.
The acquisition is expected to:
- Enhance WWT’s software, cloud, cybersecurity, and AI capabilities
- Strengthen access to commercial, small, and medium business customers
- Expand WWT’s presence in the U.S., Canada, and globally
“We are excited to join WWT,” said Andrew Caprara, Softchoice President and CEO. “Their scale and global reach complement our software and cloud-focused solutions perfectly.”
Jim Kavanaugh, WWT Co-Founder and CEO, noted, “Adding Softchoice’s capabilities to WWT’s portfolio will create greater value for clients striving to achieve their digital transformation goals.”
Transaction Details
- All-cash transaction at C$24.50 per share
- Valued at approximately C$1.0 billion enterprise value
- 62% total shareholder return from IPO price
- Premiums of 14% to recent closing price and 32% to 90-day VWAP
- Expected to close in late Q1 or early Q2 2025
- Subject to shareholder approval (66 2/3% of votes cast) and regulatory approvals
Following completion, Softchoice shares will be delisted from the TSX, and the company will cease to be a reporting issuer in Canada.
Advisors
- TD Securities: Lead financial advisor to Softchoice
- RBC: Co-lead financial advisor to Softchoice
- Origin Merchant Partners: Independent financial advisor to the Board
- Stikeman Elliott LLP: Legal advisor to Softchoice
- BDT & MSD and BofA Securities: Financial advisors to WWT
- Blake, Cassels & Graydon LLP and Bryan Cave Leighton Paisner LLP: Legal advisors to WWT
