Softcat agrees to buy GDT as Berenberg keeps Buy rating for Softcat stock

Published on 10/06/2026 at 13:39 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Softcat raised GBP 354 million on September 18, 2026 for the GDT deal. Softcat stock costs EUR 21.70 versus EUR 21.80.

Modernes Rechenzentrum mit Serverracks, Netzwerkkabeln und blauem LED-Licht — Softcat plc (GB00BYZ2B577) betreibt IT-Infrastruktur-Vertrieb, symbolisiert durch modernes Rechenzentrum mit Serverracks und blauem Licht, Illustration mit AI erstellt.

Softcat (ISIN GB00BYZDVK82) agreed to acquire GDT for USD 1.05 billion and raised GBP 354 million to help fund the transaction on September 18, 2026, according to MarketScreener. On September 21, 2026, MarketScreener reported that Berenberg lifted its price target and kept a Buy rating for Softcat stock.

US expansion changes the scale

GDT is a Texas-based, multi-vendor IT solutions provider serving upper mid-market and enterprise customers. Softcat expects the acquisition to deliver high-single-digit to low-double-digit underlying earnings per share accretion in the first full fiscal year, while completion is expected by the end of the first quarter of financial 2027.

The funding package combines GBP 100 million of cash, GBP 550 million of new debt facilities and the equity issue. Softcat expects net debt leverage of 1.3 times at closing and leverage below 1.0 times by July 2028, compared with a target range of 0.5 to 1.0 times.

Profit outlook moves higher

The transaction arrived with a separate trading update. Softcat raised its fiscal 2026 underlying operating profit growth outlook to high-teens growth from mid-teens previously, while full-year cash conversion is expected toward the top of the 85 to 95 percent guided range, Investegate reported on September 17, 2026.

Historical fiscal 2025 figures provide the latest completed annual comparison on Softcat's investor page. Revenue rose to GBP 1,458.4 million from GBP 962.6 million in fiscal 2024, a 51.55 percent increase, while underlying operating profit rose to GBP 180.1 million from GBP 154.1 million, up 16.87 percent, according to Softcat.

Results date sets the next test

Softcat's fiscal 2026 preliminary results are scheduled for October 14, 2026, according to the company's announcement carried by Investegate. That release will provide the first full-year assessment of the upgraded operating outlook before any contribution from GDT is included.

Stock trades below yearly high

Softcat stock was trading at EUR 21.70 at Lang & Schwarz on October 6, 2026 at 1:34 p.m. CEST, down 0.46 percent versus the prior close of EUR 21.80. The primary listing is on the London Stock Exchange under ticker SCT, with a 52-week range of GBp 1,083.00 to GBp 2,134.00 and market capitalization of GBP 3.6 billion as of October 6, 2026. The further course of trading is shown by the continuously updated real-time quote of Softcat stock.