WWT To Buy Softchoice In $1.25B Blockbuster: Here’s What To Know
Summary
World Wide Technology is planning to make arguably what would be the biggest acquisition in its long history with the purchase of fellow channel superstar Softchoice for $1.25 billion to boost WWT’s AI ambitions and SMB customer base across North America. The $20 billion St. Louis-based IT powerhouse plans to acquire Toronto, Ontario-based Softchoice in an all-cash deal to add to its already growing employee base of nearly 10,000 workers worldwide. Kavanaugh touted Softchoice’s 35-year history in the IT industry, saying that its software, cloud, cybersecurity and AI capabilities will enable WWT to create “even greater value for our clients striving to achieve their digital transformation goals.” Softchoice serves over 5,000 organizations with a focus on SMBs mostly in North America, while WWT’s customer footprint ranges from large enterprises to SMBs across the globe. WWT has hired thousands of new employees every year without needing external funding simply due to its strong business strategy and market execution. Softchoice President and CEO Andrew Caprara said WWT’s scale, technology and global enterprise reach “are a perfect complement to our software- and cloud-focused solutions, our Canadian presence, and our strength in the North American midmarket.” “I believe WWT is the ideal partner for our customers and employees and I’m excited about our future as a combined firm,” Caprara said in a statement.