UK's Softcat expands US presence with $1.05 billion deal for GDT (updated)
UPDATE 1-UK's Softcat expands US presence with $1.05 billion deal for GDT Adds background in paragraph 2, details in paragraph 3-5, outlook in paragraph 6
Sept 17 (Reuters) - British IT firm Softcat SCTS.L on Thursday said it had agreed to buy U.S.-based GDT at an enterprise value of $1.05 billion, as it seeks to expand operations in North America.
IT infrastructure companies like Softcat have benefited from demand for AI-related networking, data center and cybersecurity solutions.
The acquisition would give Softcat access to GDT's enterprise customer base and U.S. operations.
"Our customers have repeatedly asked us to support their technology requirements outside the UK and Ireland, particularly in North America and GDT meets every benchmark we looked for to meet that request," CEO Graham Charlton said in a statement.
The deal, funded through cash, new debt facilities and an equity placing, is expected to deliver high-single-digit to low-double-digit earnings per share accretion in its first full fiscal year.
Separately, Softcat raised its full-year profit outlook. It now expects high-teens growth in underlying operating profit for FY2026, up from mid-teens previously, driven by broad-based growth across technology areas and customer segments.
(Reporting by Sri Hari N S in Bengaluru; Editing by Jonathan Ananda and Sahal Muhammed)