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Tech services firm WWT acquires Canadian IT provider Softchoice in all-cash deal
IT tech services firm World Wide Technology has agreed to acquire Canadian IT provider Softchoice in all-cash deal.
Close to a decade later, in 2021, the company filed for an initial public offering on the Toronto Stock Exchange (TSX) that valued it at around C$1.15 billion (~$800 million). In Q3 2024, the company reported a 10% year-over-year increase in gross profit and 8% uptick in net income, driven by an expanding customer base. WWT, founded in 1990 by Kavanaugh and David Stewart, helps customers and partners conceptualize, test, and deploy tech solutions, including projects involving cloud computing, data center infrastructure, and app development.
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