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Press release from Marketwire

Softchoice Announces Acquisition of UNIS LUMIN

- Transaction to Accelerate Softchoice's Services and Cloud Infrastructure Business

Thursday, November 03, 2011

Softchoice Announces Acquisition of UNIS LUMIN16:28 EDT Thursday, November 03, 2011TORONTO, ONTARIO--(Marketwire - Nov. 3, 2011) - Softchoice Corporation (TSX:SO) announced today that it has entered into an agreement to acquire the business of UNIS LUMIN, one of Canada's most highly regarded Cisco networking and managed services companies. The acquisition strengthens Softchoice's professional services capabilities while providing the technology foundation to support the Company's future cloud offerings. Softchoice has agreed to pay approximately $17 million in cash for substantially all assets of UNIS LUMIN, subject to balance sheet adjustments. The transaction is subject to approval by the Competition Bureau of Canada and is expected to close before December 31st, 2011.Benefits from the transaction include the following:A new, highly qualified sales and professional services team with a reputation for technical excellence in solution design and delivery. Substantially deepens Softchoice's expertise in server virtualization and the implementation of private cloud infrastructure. Provides a recurring revenue stream and technology foundation for Softchoice's future public cloud offerings through UNIS LUMIN's Keystone managed services. Strengthens Softchoice's ability to support the integration of Microsoft technologies through UNIS LUMIN's Microsoft Gold Partner certification. Increases Softchoice's geographic coverage of the Canadian marketplace with an office in Atlantic Canada and an increased presence in the west. Softchoice intends to retain the UNIS LUMIN team in its entirety, including all Sales, Pre-sales, Professional Services, Managed Services and related operational functions. "We are delighted to welcome the newest members of our team and to mark another great milestone in our progression as a comprehensive provider of end-to-end technology solutions," said David MacDonald, President and CEO of Softchoice. "We have witnessed unprecedented change and growing complexity in the technology landscape these past few years. Yet with our internal investments and acquisitions like this, we have never been more confident in our ability to assist customers in tackling their most complex projects – from the desktop, to leveraging private and public cloud infrastructure."UNIS LUMIN's rapid growth is a reflection of the company's technical expertise and focus on earning the loyalty of its customers. For its most recent fiscal period ended June 30th, 2011, UNIS LUMIN recorded revenues of approximately $74 million. Over half of UNIS LUMIN's business is derived from its services offerings. Management believes the combination of the two firms will be accretive to Softchoice's earnings in calendar year 2012."As a high-growth company we have been in the fortunate position to be selective about finding the organization that would provide the right focus and resources to build on our work and value to customers," said John Breakey, CEO of UNIS LUMIN. "Softchoice more than met our criteria for continued success – above all, a strong culture and focus on people."Vercap Corporate Finance acted on behalf of UNIS LUMIN. Softchoice Corporation was represented by Martin Wolf Securities.UNIS LUMIN Acquisition Conference CallSoftchoice will be hosting a conference call to discuss the acquisition of the UNIS LUMIN business at 8 am on Friday November 4th, 2011. David MacDonald, Softchoice's President and CEO, and David Long, Softchoice's Chief Financial Officer will host the call. The call will begin with a brief presentation followed by a-question-and-answer session.Local dial-in number: 416.800.1066 Toll free dial-in number: 1.866.212.4491Webcast URL: http://www.snwebcastcenter.com/custom_events/softchoice-20111107/site/To ensure participation, please dial in at least 10 minutes prior to the start of the conference at 8:00 am EDT.For those unable to attend the call, a link will be made available on the Softchoice website to an archived web and audio version on November 5th, 2011.About UNIS LUMINEstablished in 1990, UNIS LUMIN is a fast-growing organization with deep expertise in technical consulting, Cisco networking solutions and Managed Services delivery. UNIS LUMIN is also a Gold Certified Microsoft Partner, a NetApp Gold Authorized Reseller, an EMC Velocity Partner and a VMware Enterprise Solutions Provider and authorized consultant. UNIS LUMIN has approximately 130 employees with offices in Vancouver, Calgary, Toronto (Oakville), Montreal and Halifax. About SoftchoiceAs 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. Forward-Looking StatementsThis 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. 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.FOR FURTHER INFORMATION PLEASE CONTACT: Eric GardinerMedia Contact: Softchoice CorporationManager of Communications416.588.9002 Ext. 2358eric.gardiner@softchoice.com