Latest news with #JimKavanaugh
Yahoo
13-03-2025
- Business
- Yahoo
World Wide Technology Announces Completion of Softchoice Acquisition, Expanding Software, Cloud, Cybersecurity and AI Capabilities
Acquisition creates complete portfolio of solutions across World Wide Technology and Softchoice with premier offerings that deliver comprehensive support across clients' full AI and digital transformation journeys ST. LOUIS & TORONTO, March 13, 2025--(BUSINESS WIRE)--World Wide Technology (WWT), a US$20 billion global technology solutions provider, today announced it has completed the acquisition of Softchoice, a software and cloud-focused IT solutions provider. The approximately US$1.3 billion acquisition enhances WWT's capabilities to support clients across the entirety of their AI and digital transformation journeys. This strategic move reflects WWT and Softchoice's shared commitment to delivering tailored, high-impact solutions to a diverse and expanding client base. WWT's clients will now have access to a more comprehensive portfolio of software, cloud, cybersecurity and AI solutions. The acquisition broadens WWT's client base of large enterprise, service providers and public sector markets in the U.S. and around the world to include Softchoice's focus in Canada and within the Commercial, Small and Medium Business markets across North America. Softchoice can now expand offerings and consultant-led services for clients, including across infrastructure and hardware, via access to WWT's state-of-the-art Advanced Technology Center (ATC), AI Proving Ground Lab and integration centers, and by leveraging WWT's differentiated AI, cloud, security and digital capabilities. Jim Kavanaugh, Co-Founder and Chief Executive Officer of WWT: "This strategic transaction brings together two high-performing organizations focused on delivering groundbreaking solutions that help accelerate AI adoption and the digital transformation journeys of organizations across the globe. We are thrilled to welcome Andrew Caprara, the leadership team and the entire Softchoice organization to the WWT team. Our shared focus on innovation, people and culture will deliver even greater value to our expanded client base." David Steward, Founder and Chairman, WWT: "We are excited to add Softchoice's specialized software, cloud, cybersecurity and AI-based services, expanding WWT's portfolio of solutions in our proprietary ATC and AI Proving Ground. This combination will magnify our presence in global markets, across both enterprise and small and medium size businesses for all industries." Andrew Caprara, President and CEO of Softchoice: "We truly believe our complementary capabilities deliver an offering that no other company in the industry can match. Softchoice and WWT are exceptionally well aligned in our focus to propel organizations forward, while maintaining a deep commitment to being a great place to work for all. Together, I am confident that we will continue to build our world-class culture and drive growth and tangible business value for those we serve." Founded in Toronto, Canada, Softchoice has grown over its 35-year history to become Canada's premier technology solutions provider, delivering secure, AI-powered cloud and digital workplace solutions supported by its advanced software asset management methodology and capabilities, known as SAM+. Softchoice collaborates with a broad range of technology partners, including Adobe, AWS, Cisco, Google and VMware, and has a 30-year partnership with Microsoft, which recognized Softchoice as a 2024 Americas Partner of the Year. Through the near-term, Softchoice will operate as Softchoice, a World Wide Technology company. Softchoice President and CEO Andrew Caprara will remain as CEO. As WWT and Softchoice grow together, they are positioned to solve more client challenges with end-to-end solutions including bringing faster AI adoption to a wider market and across more channels. Accelerating Enterprise AI Adoption The rapid evolution of AI has significantly increased demand for generative AI solutions. This acquisition builds on WWT's strategic US$500 million investment over three years to help organizations accelerate AI adoption at the enterprise level through solutions and resources such as WWT's ATC, which enables clients globally to experiment, develop and verify technology strategies from across WWT's expansive partner ecosystem of hundreds of hardware and software providers. Housed in the ATC is also WWT's first-of-its-kind AI Proving Ground lab environment where organizations can try, test and validate AI applications unique to their business needs and use cases. Softchoice brings to WWT a strategic partnership with Microsoft that further enhances their abilities to develop, sell and deliver Microsoft's cloud and digital workplace AI and security solutions, including Microsoft Copilot for Microsoft 365 and Microsoft Copilot for Security. Shared Culture of Innovation Driven by its mission to be a great place to work for all, WWT's innovative culture has been recognized by top organizations across the globe, including 13 consecutive years as one of the Fortune 100 Best Companies to Work For®. Softchoice shares this same ambition, with certification from Great Place to Work® in both the U.S. and Canada and 19 consecutive years of recognition as a Best Workplace in Canada. More details on the deal may be found here. About World Wide Technology Founded in 1990, World Wide Technology (WWT) is a global technology solutions provider leading the AI and Digital Revolution. With more than $20 billion in annual revenue, WWT combines the power of strategy, execution and partnership to accelerate digital transformational outcomes for organizations around the globe. Through its Advanced Technology Center, a collaborative ecosystem of the world's most advanced hardware and software solutions, WWT helps clients and partners conceptualize, test and validate innovative technology solutions for the best business outcomes and then deploys them at scale through its global warehousing, distribution and integration capabilities. With over 12,000 employees across WWT and Softchoice and more than 60 locations around the world, WWT's culture, built on a set of core values and established leadership philosophies, has been recognized 13 years in a row by Fortune and Great Place to Work® for its unique blend of determination, innovation and creating a great place to work for all. Connect with WWT: Twitter | Instagram | Facebook | LinkedIn About Softchoice, a World Wide Technology company Softchoice Corporation, a World Wide Technology company, is a software and cloud-focused IT solutions provider that equips people to be engaged, connected and creative at work, and organizations to be agile, innovative, and secure by delivering AI-powered cloud and digital workplace solutions. Through our mission, we unleash the potential in people and technology to unlock value for our customers as we guide them through their transformation journey with comprehensive end-to-end solutions. We have a highly engaged, high-performing team that is welcoming, inclusive, and diverse in thought and experience, and are certified as a Great Place to Work® in Canada and the United States. For the past 19 years, we have consistently been recognized by Great Place to Work® as a Best Workplace in Canada. For more information, visit: View source version on Contacts Media Contact: Sara SteindorfFleishmanHillard for Lauren CrawfordSpecialist, Communications and Brand, Sign in to access your portfolio
Bloomberg
24-02-2025
- Business
- Bloomberg
WWT Untangles AI Complexities As Customers Ready Roll Outs: Tech Disruptors
World Wide Technology Technologies (WWT) has emerged as an invaluable partner for corporates embarking on their AI journey. WWT CEO and Co-Founder Jim Kavanaugh stops by the Tech Disruptors podcast studio and sits down with Bloomberg Intelligence analyst, Woo Jin Ho, to discuss WWT's evolution from a value-added reseller in 1990 to a global systems integrator that generates $20 billion in annual sales with 10,000 employees. The company was early on in identifying AI as a disruptive change in corporate IT, and through investments and the creation of its AI Proving Ground, the company has become a trusted partner and AI thought leader for Fortune 500 customers and its vendors.
Yahoo
04-02-2025
- Business
- Yahoo
IBM Gives Long-Term Sales Growth Outlook That Tops Expectations
(Bloomberg) -- International Business Machines Corp. gave a stronger-than-expected revenue growth outlook for the coming years led by the expansion in its software business. State Farm Seeks Emergency California Rate Hike After Fires New York's First 'Passive House' School Is a Model of Downtown Density NYC's Newest Transit Leader Builds a Worker-Driven Strategy When French Communists Went on a Brutalist Building Boom Historic London Elevator Faces Last Stop in Labour's Housing Push Long-term sales will increase more than 5% annually, IBM Chief Financial Officer Jim Kavanaugh said Tuesday during an presentation. Kavanaugh didn't define the number of years included in the forecast, although analysts, on average, had projected growth of about 4% in constant currency for fiscal years 2026 and 2027. IBM has been transforming itself from a conventional computer company into one focused on software and services. It has used acquisitions to expand products, including a proposed takeover of Hashicorp Inc. announced in April and the purchase of Apptio for $4.6 billion in 2023. The shares rose 1.4% to $264.46 at the close in New York. The stock was at a record high leading into the event, including a 13% jump on Jan. 30 owing largely to enthusiasm over Big Blue's strong fourth-quarter results, led by the software business, and a forecast for 2025 revenue to increase 'at least 5%' in constant currency. Long-term revenue from the software business will gain about 10% annually, Kavanaugh said. Analysts had expected growth of 7%-9% through 2027. The infrastructure unit will increase 1%-3%, Kavanaugh said. Later in the decade, this unit will see revenue from quantum computing, he added. Consulting, a division that has struggled in recent quarters, will grow ahead of the market, Kavanaugh said. 'The consulting market is going through a transition with the technological shift of GenAI.' The sales outlook seems 'cautious given its software strength,' wrote Anurag Rana, an analyst at Bloomberg Intelligence. Though the consulting outlook suggests gains in that segment 'may not rebound in the near term.' Amazon and SpaceX Want In on India's Satellite Internet Market Elon Musk Inside the Treasury Department Payment System The NFL's Flawed DEI Program Still Beats What Most Companies Are Doing The Internet Almost Killed Barnes & Noble, Then Saved It Indy Pass, the Anti-Vail Seasonal Ski Ticket, Is Gaining Fans ©2025 Bloomberg L.P.
