World Wide Technology Holding Co. Ltd. is set to acquire Softchoice Corp. for $1.8 billion Canadian dollars, representing a strategic move to enhance its IT service offerings.
The acquisition values Softchoice at C$24.5 per share, with a 10% premium over the previous closing price and a 62% increase since its 2021 IPO.
Softchoice's primary revenue streams include cloud services, digital workplace solutions for employee productivity, and software management, making it a complementary addition to WWT's portfolio.
With a customer base exceeding 5,000 organizations and gross sales of C$628.6 million, Softchoice demonstrates significant growth potential, especially within the small and midsize business market.
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