Converge Technology Solutions Corp. Acquires Creative Breakthroughs, Inc.

Rhea-AI Summary

Converge Technology Solutions Corp. has achieved its milestone 30th acquisition by acquiring Creative Breakthroughs, Inc. (CBI), a cybersecurity solutions provider. This acquisition will enhance Converge's cybersecurity offerings and expand its reach across North America. CBI, based in Ferndale, Michigan, specializes in threat detection and operational risk management. The integration aims to leverage CBI's expertise and strengthen Converge's market position in cybersecurity, enhancing service delivery for clients.

Positive

• Acquisition of CBI strengthens Converge's cybersecurity portfolio.
• CBI's expertise enhances threat detection and risk management capabilities.
• Expansion across North America through CBI's existing network.

Negative

• None.

CBI marks a milestone 30th acquisition for Converge

TORONTO and GATINEAU, Québec, April 01, 2022 (GLOBE NEWSWIRE) -- Converge Technology Solutions Corp. (“Converge” or “the Company”) (TSX:CTS) (FSE:0ZB) (OTCQX:CTSDF) a software-enabled IT & Cloud Solutions provider, is pleased to announce it has acquired cybersecurity solutions provider Creative Breakthroughs, Inc. (“CBI”).

Headquartered in Ferndale, Michigan with presence in regions across the United States, CBI is a services-led team focused on cybersecurity solutions that make the world a safer place. Comprised of strategists, former CISOs, and security experts, CBI identifies and stops would-be breaches before they impact an organization. CBI’s main focus areas of threat-detection and obstruction lie in helping defend and secure networks and endpoints, testing and monitoring areas of operational risk, and protecting data. The company’s offerings range from security programs to architecture and integration to managed security.

"For over three decades, our clients have been our biggest fans. They’ve been attracted to our tightly focused offerings with world-class results, and, in an effort to continue meeting their demands in relation to our ability to provide scale, we explored the M&A market for a partner to help us tell a bigger story. By joining Converge, CBI will now be able to take what we do to a much larger audience, integrate with key new partnerships, and have in-depth conversations regarding Cloud, Analytics, and Digital Infrastructure at the level our clients have come to expect,” said Steve Barone, CEO of CBI.

“Converge is excited to have CBI join us as our 30th acquisition,” stated Greg Berard, President of Converge. “CBI’s knowledge of the security landscape and the strength of their team and solutions will be a major asset for Converge’s cybersecurity practice and our ability to continue protecting our clients with the best threat defenses for their organizations. CBI expands our security portfolio immediately by bringing more strategic partnerships and a team of strong technical resources across North America that will provide cybersecurity expertise and value for all of our Converge clients.”

CBI marks the thirtieth acquisition announced by Converge or its affiliates since October 2017. Converge’s family of companies also includes Corus Group, LLC; Northern Micro, Inc.; 10084182 Canada Inc. operating as Becker-Carroll; Key Information Systems, Inc.; BlueChip Tek, Inc.; Lighthouse Computer Systems, Inc.; Software Information Systems LLC.; Nordisk Systems, Inc.; Essex Technology Group, Inc.; Datatrend Technologies, Inc.; VSS, LLC; Solutions PCD, Inc.; Unique Digital, Inc.; Workgroup Connections, Inc.; Vivvo Application Studios LTD.; Vicom Computer Services, Inc.; CarpeDatum LLC; Accudata Systems, Inc.; Dasher Technologies, Inc.; ExactlyIT, Inc.; REDNET AG; Vicom Infinity, Inc.; Infinity Systems Software, Inc.; LPA Software Solutions, LLC; OPIN Digital, Inc; Paragon Development Systems, Inc.; Visucom GmbH; 1CRM Systems Corp.; and Interdynamix Systems.

About CBI
Headquartered in Ferndale, Michigan with presence in regions across the United States, CBI is a services-led team focused on cybersecurity solutions that make the world a safer place. Comprised of strategists, former CISOs, and security experts, CBI works tirelessly to identify and stop would-be breaches before they impact an organization. CBI’s main focus areas of threat-detection and obstruction lie in helping defend and secure networks and endpoints, testing and monitoring areas of operational risk, and protecting data. The company’s offerings range from security programs to architecture and integration to managed security.

About Converge
Converge Technology Solutions Corp. is a software-enabled IT & Cloud Solutions provider focused on delivering industry-leading solutions and services. Converge’s global solution approach delivers advanced analytics, application modernization, cloud, cybersecurity, digital infrastructure, and digital workplace offerings to clients across various industries. The Company supports these solutions with advisory, implementation, and managed services expertise across all major IT vendors in the marketplace. This multi-faceted approach enables Converge to address the unique business and technology requirements for all clients in the public and private sectors. For more information, visit convergetp.com.

For further information contact:
Converge Technology Solutions Corp.
Email: investors@convergetp.com
Phone: 416-360-1495

FAQ

What is the significance of Converge's acquisition of CBI?

The acquisition marks Converge's 30th purchase, enhancing its cybersecurity capabilities and market reach.

When was the acquisition of CBI announced?

The acquisition was announced on April 1, 2022.

What services does CBI provide?

CBI specializes in cybersecurity solutions, including threat detection, network security, and data protection.

How will this acquisition impact Converge's clients?

Clients will benefit from improved cybersecurity services and expanded support through CBI's expertise.

What is the stock symbol for Converge Technology Solutions?

The stock symbol for Converge Technology Solutions is CTSDF.