On March 6, 2025, the Ontario Superior Court of Justice (Commercial List) granted a final order approving the plan of arrangement between Softchoice Corporation and World Wide Technology Holding Co., LLC (WWT). This decision paves the way for WWT to acquire all outstanding common shares of Softchoice for CAD 24.50 per share in cash, valuing the company at approximately CAD 1.8 billion. citeturn0search0
Transaction Details
The agreement stipulates that WWT, through an affiliate, will acquire all issued and outstanding common shares of Softchoice for CAD 24.50 per share in cash. This offer represents premiums of approximately 14%, 32%, and 19% over Softchoice’s closing price on December 30, 2024, the day prior to the announcement, and the 90-day volume-weighted average price, respectively. The transaction is expected to close on or about March 13, 2025, subject to the satisfaction or waiver of remaining closing conditions. citeturn0search0
Strategic Rationale
This acquisition aims to enhance WWT’s capabilities in AI, cloud, and software services across North America. Softchoice’s 35-year history in the IT industry, combined with its expertise in software, cloud, cybersecurity, and AI, aligns with WWT’s mission to empower enterprises of all sizes to achieve better business outcomes. The deal also expands WWT’s reach into the small and medium business (SMB) sector, complementing its existing customer base. citeturn0search8
Shareholder Approval
Prior to the court’s final approval, Softchoice shareholders overwhelmingly voted in favor of the arrangement. At a special meeting held on March 4, 2025, approximately 99.82% of votes cast were in favor, meeting both the two-thirds majority and the simple majority requirements, excluding certain votes as per regulatory guidelines. citeturn0search1
About Softchoice Corporation
Softchoice Corporation (TSX: SFTC) is a Canadian IT solutions provider specializing in software and cloud services. The company designs, procures, implements, and manages complex multi-vendor IT solutions, including cloud and data center, collaboration and digital workplace, IT asset management, network, and security services. Softchoice serves over 5,000 organizations, focusing on SMBs in North America. citeturn0search2
About World Wide Technology
World Wide Technology is a $20 billion IT services company based in St. Louis, Missouri. With nearly 10,000 employees globally, WWT offers advanced technology solutions and services, including AI, cloud, and software offerings. The acquisition of Softchoice marks WWT’s first major acquisition in a decade, reflecting its commitment to expanding its service offerings and customer base. citeturn0search8
This strategic partnership between Softchoice and World Wide Technology is set to create a more robust platform for delivering innovative IT solutions, benefiting clients across North America.