Toronto-based IT provider Softchoice is set to go private in a $1.8 billion deal with St. Louis-based World Wide Technology (WWT). The all-cash acquisition values Softchoice at $24.50 per share, a 14% premium over its Dec. 30 closing price on the TSX.
WWT CEO Jim Kavanaugh highlighted Softchoice’s expertise in cloud, cybersecurity, AI, and software as complementary to WWT’s offerings. Softchoice will delist from the TSX, where it has traded since its 2021 IPO. This move reflects a broader trend of Canadian tech firms going private post-pandemic, joining peers like Nuvei, Magnet Forensics, and Payfare.
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