The Toronto-based IT provider has agreed to be bought by World Wide Technology (WWT), a St. Louis-based tech services firm. The $24.50 per share purchase price of the all-cash deal is 14 per cent higher than Softchoice’s Dec. 30 closing price on the Toronto Stock Exchange. (The Logic)
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The Toronto-based IT provider has agreed to be bought by World Wide Technology (WWT), a St. Louis-based tech services firm. The $24.50 per share purchase price of the all-cash deal is 14 per cent higher than Softchoice’s Dec. 30 closing price on the Toronto Stock Exchange. (The Logic)
Talking point: WWT CEO Jim Kavanaugh said in a press release that Softchoice’s expertise in software, cloud, cybersecurity and AI will complement his firm’s product offerings. As part of the deal, Softchoice will delist from the TSX, where it has traded since going public in 2021. The 35-year-old firm joins a cohort of Canadian tech companies that went public during the pandemic-era IPO boom but have since exited the stock exchange, either through go-private deals or acquisitions. Its peers include payments company Nuvei, cybersecurity firm Magnet Forensics and fintech firm Payfare, which agreed last month to be acquired by U.S.-listed Fiserv.
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