by Mark Haranas, CRN
World Wide Technology is planning to make arguably what would be the biggest acquisition in its long history with the purchase of fellow channel superstar Softchoice for $1.25 billion to boost WWT's AI ambitions and SMB customer base across North America.
The $20 billion St. Louis-based IT powerhouse plans to acquire Toronto, Ontario-based Softchoice in an all-cash deal to add to its already growing employee base of nearly 10,000 workers worldwide.
"As the AI revolution reshapes industries and transforms businesses worldwide, we are at the forefront of this change—leading by empowering enterprises of all sizes to achieve better business outcomes," said WWT CEO Jim Kavanaughin a statement.
Kavanaugh touted Softchoice's 35-year history in the IT industry, saying that its software, cloud, cybersecurity and AI capabilities will enable WWT to create "even greater value for our clients striving to achieve their digital transformation goals."
Softchoice serves over 5,000 organizations with a focus on SMBs mostly in North America, while WWT's customer footprint ranges from large enterprises to SMBs across the globe.
WWT ranks No. 7 on CRN's 2024 Solution Provider 500 list, while Softchoice ranks at No. 35.
WWT's First Acquisition In 10 Years; AI Ambitions
Founded in 1990, WWT is not accustomed to acquisitions.
While many tech companies grow sales and scale via acquisitions and private equity funding, WWT has grown mostly organically.
For example, WWT's most recent acquisition came in 2015 with the purchase of software company Asynchrony for an undisclosed amount.
In 2010, WWT also acquired Performance Technology Group for an undisclosed amount.
WWT has hired thousands of new employees every year without needing external funding simply due to its strong business strategy and market execution.
WWT is currently transforming itself into an AI and generative AI global powerhouse.
