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Softchoice Completes Acquisition of UNIS LUMIN- Acquisition bolsters Softchoice's position as Canada's Top Solutions Provider (1). (December 01, 2011)
TORONTO, ONTARIO -- (Marketwire) -- 12/01/11 -- Softchoice (TSX:SO) announced today that it has fulfilled its regulatory requirements under the Competition Act and has now completed the acquisition of substantially all of the assets of UNIS LUMIN. The acquisition represents a major step in Softchoice's long-term strategy to create a broader and more diversified solutions and services portfolio that includes managed services, technical consulting, professional services delivery, and project management capabilities.
"Today we mark another milestone in the expansion of our services offerings and our ability to help organizations take advantage of the latest innovations with increasing speed and efficiency," said David MacDonald, President and CEO of Softchoice. "It is my sincere pleasure to welcome the newest members our team and to wish them all the best as we work together to build the future."
As one of Canada's most highly regarded Cisco networking and managed services companies, UNIS LUMIN brings a qualified team with deep technical expertise in the design and delivery of advanced networking and data center solutions. UNIS LUMIN's managed services offering, which includes monitoring and proactive support, will provide new recurring revenue opportunities while serving as a cornerstone in Softchoice's future public cloud offering. The acquisition is expected to be accretive to Softchoice's earnings in calendar year 2012.
(1) Based on Computer Dealer News' annual ranking of Canada's Top 100 Solutions Providers.
As a leading North American provider of technology solutions and services, Softchoice combines the efficiency and reliability of a national IT supplier with the personal touch and technical expertise of a local solutions provider. Softchoice's holistic approach to technology includes solution design, implementation and asset management services, as well as access to one of the most comprehensive and cost-effective technology distribution networks in North America. With over 950 employees located in more than 40 branch offices, Softchoice manages the technology needs of almost 15,000 corporate and public sector organizations across the United States and Canada.
Softchoice stock is listed on the Toronto Stock Exchange (TSX) under the trading symbol "SO." The common shares of Softchoice are not registered under the U.S. Securities Act of 1933 and are not publicly traded in the United States.
This press release contains forward-looking statements that involve risks and uncertainties. These forward-looking statements relate to expectations, intentions and plans contained in this press release that are not historical fact. When used in this press release, the words "anticipate", "expect", "will" and similar expressions generally identify forward-looking statements. Statements relating to the effect of the acquisition on future earnings and future offerings by Softchoice are forward-looking statements. These statements reflect our current expectations and are subject to a number of risks and uncertainties including, but not limited to, change in technology and general market conditions, many of which are set out or incorporated by reference in the Company's latest Annual Information Form. Due to the many risks and uncertainties, Softchoice cannot assure that the forward-looking statements contained in this press release will be realized.
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