Softchoice’s Plan of Arrangement: A New Chapter in the IT Services Industry
Toronto-based Softchoice Corporation (Softchoice) made headlines recently with the announcement of a final court approval for its plan of arrangement (Arrangement) with World Wide Technology Holding Co., LLC (WWT) and 2672989 Alberta ULC, an affiliate of WWT. This transaction marks a significant milestone in the IT services industry, and we’re here to help you understand the details and implications.
The Arrangement: A Closer Look
On [Date], Softchoice shared the news that the Ontario Superior Court of Justice (Commercial List) had granted its approval for the Arrangement. Under the terms of this arrangement, WWT will acquire all of Softchoice’s issued and outstanding common shares. The purchase price for each Softchoice share will be CAD 12.50 in cash.
What Does This Mean for Softchoice Shareholders?
If you’re a Softchoice shareholder, this transaction could result in a few changes:
- Cash Payment: Each Softchoice share will be exchanged for CAD 12.50 in cash.
- Transfer of Shares: Softchoice shares will be automatically transferred to WWT following the effective date of the Arrangement.
- No Action Required: Shareholders do not need to take any action to receive their payment.
Global Implications: A New Player in the IT Services Industry
Beyond Softchoice shareholders, this Arrangement is expected to have a significant impact on the IT services industry as a whole:
- Expanded Global Reach: WWT’s acquisition of Softchoice will strengthen its position in the market and provide an enhanced global presence.
- Increased Offerings: The combined entity will offer a broader range of IT services and solutions, benefiting both companies’ clients.
- Innovation and Growth: The merger is expected to lead to increased investment in research and development, driving innovation and growth in the IT services sector.
In Conclusion
The final approval of Softchoice’s plan of arrangement with WWT marks an exciting new chapter for both companies and the IT services industry as a whole. Softchoice shareholders stand to benefit from a cash payment, while the global IT services landscape will witness expanded reach, increased offerings, and accelerated innovation. Stay tuned for updates as this story unfolds.
For more information, please consult Softchoice’s official press release or contact your financial advisor.
