Softchoice to be Acquired for C$1.8 Billion, Delist From TSX [BNN Bloomberg (Canada)]
TELUS International (Cda) Inc. Subordinate Voting Shares (TIXT)
Company Research
Source: BNN Bloomberg
The company announced on Tuesday morning that the deal is valued at C$1.8 billion ($1.3 billion), or C$24.50 per share in cash to Softchoice, and will be overseen by TD Securities. The agreement also comes with a C$49 million termination fee. Softchoice shares gained roughly 14% just after the Toronto markets opened, marking its biggest intraday gain since March. Softchoice went public in May 2021 at C$20 per share, joining a wave of other Canadian tech firms filing for IPOs that year, including TELUS International and MDA Space Ltd. The company has been a “transformative player” in the information tech industry for over 35 years, said World Wide Technology Chief Executive Officer Jim Kavanaugh. ©2024 Bloomberg L.P.
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