STOCK TITAN

Converge Technology Solutions Corp. Acquires Unique Digital Technology, Inc.

Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Positive)
Rhea-AI Summary

Converge Technology Solutions has acquired Unique Digital Technology, an IT solutions provider based in Texas, known for its expertise in cloud and data protection. This acquisition aims to enhance Converge's Software Enabled Hybrid IT solutions portfolio. Unique Digital's CEO, Andy Pratt, will maintain his role, and the existing team will remain in place. The acquisition is part of Converge's growth strategy, marking its thirteenth acquisition since October 2017. Leveraging Unique Digital's capabilities, Converge aims to strengthen its position in the North American IT market, particularly in Texas.

Positive
  • Strengthens Converge's IT solutions portfolio with Unique Digital's expertise.
  • Expands market reach in Texas, a key region for IT services.
  • Unique Digital's established customer base enhances revenue potential.
Negative
  • None.

Unique Digital delivers a variety of customized IT solutions and services with highly trained technical engineers and leading-edge technologies to assist and streamline the rapid growth of data.

TORONTO, Oct. 1, 2020 /PRNewswire/ - Converge Technology Solutions Corp. ("Converge" or "the Company") (TSXV: CTS) (FSE: 0ZB) (OTCQX: CTSDF) announced today that it has acquired Unique Digital Technology, Inc. (Unique Digital), a Texas-based IT Solutions Provider focused on architecting and implementing solutions in big data, cloud, data protection, networking, security, and virtualization.

Unique Digital's CEO, Andy Pratt, will continue in his role along with the existing Unique Digital management team. Converge will look to introduce its Software Enabled Hybrid IT solutions including identity-based cognitive, resiliency managed services, multi-cloud solutions, and enterprise blockchain to existing and new Unique Digital customers while leveraging Unique Digital specializations ranging from cloud architecture, networking, storage, high availability, and data protection solutions related to mission critical environments to Converge clients across North America.

For over three decades, Unique Digital has delivered a variety of customized solutions and services. Their highly trained technical engineers work closely with organizations to successfully execute and support their IT strategies. By partnering with leading-edge technologies, Unique Digital assists in consolidating and streamlining the rapid growth of data in your environment. It offers an onsite lab where the latest hardware and software from industry-leading manufacturers are tested to enhance product and solution delivery. Its data center lab environment enables organizations to preview and demo new technological developments before implementation or procurement.

"We live in a data-driven world. Companies are leveraging large pools of data to formulate their business strategy. New technologies are being developed every day and with that, more data is being created. By joining the Converge family, we are confident that Unique Digital will better serve its customers by augmenting the existing offerings and solutions. We are excited to add Converge's platform of offerings to new and existing customers. For us, it is the best way to continue to architect, implement, and support the latest technology solutions and accelerate the growth of our organization," said Andy Pratt, CEO of Unique Digital.

"We look forward to Unique Digital joining the Converge family of companies," said Shaun Maine, CEO of Converge. "Like the PCD Solutions acquisition earlier this year in Canada, Unique Digital brings deep VMware capabilities to Converge's US operations. With Texas containing four of the top-10 largest US cities (Houston, Dallas, Austin, and San Antonio), we expect Unique Digital's strategic alignment with Dell Technologies as a Titanium partner and highly trained technical staff to be critical assets in becoming a dominant software-enabled Hybrid IT provider in the Texas marketplace."

Unique Digital marks the thirteenth acquisition completed by Converge 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; and Solutions P.C.D., Inc.

About Converge
Converge Technology Solutions Corp. is a North American Hybrid IT Solution Provider focused on delivering industry leading solutions and services. Converge's regional sales and services organizations deliver advanced analytics, cloud, cybersecurity, and managed services offerings to clients across various industries. The Company supports these solutions with talent expertise and digital infrastructure offerings across all major IT partners 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.

About Unique Digital
For over three decades, Unique Digital has provided its customers with customized solutions and services to simplify, transform, and maintain their IT infrastructure. By partnering with industry-leading technology companies, Unique Digital enables its customers to manage complex IT demands with superior solutions. Their highly trained technical staff addresses the entire IT infrastructure to deliver turn-key solutions that solve current and future IT needs. For more information, visit http://uniquedigital.com.

Notice to Reader: Use of Forward-Looking Statements

Forward-Looking Information
This news release contains certain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation regarding Converge and its business. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects," or "does not expect," "is expected," "anticipates," or "does not anticipate," "plans," "budget," "scheduled," "forecasts," "estimates," "believes," or intends," or variations of such words and phrases or stating that certain actions, events or results "may" or "could," "would," "might," or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Except as required by law, Converge assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change. The reader is cautioned not to place undue reliance on forward-looking statements.
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cision View original content:http://www.prnewswire.com/news-releases/converge-technology-solutions-corp-acquires-unique-digital-technology-inc-301144475.html

SOURCE Converge Technology Solutions Corp.

FAQ

What is the purpose of Converge Technology Solutions' acquisition of Unique Digital?

The acquisition aims to enhance Converge's Software Enabled Hybrid IT solutions and expand its market reach.

When did Converge acquire Unique Digital Technology?

The acquisition was announced on October 1, 2020.

What are the expected impacts of the acquisition on CTSDF stock?

The acquisition could potentially strengthen revenue streams and market presence, positively affecting CTSDF stock.

Who will lead Unique Digital after the acquisition by Converge?

Andy Pratt, Unique Digital's CEO, will continue in his role post-acquisition.

How does Unique Digital's acquisition contribute to Converge's growth strategy?

It marks the thirteenth acquisition by Converge since October 2017, reinforcing its growth and market presence.

CONVERGE TECH SLTN CORP

OTC:CTSDF

CTSDF Rankings

CTSDF Latest News

CTSDF Stock Data

492.32M
204.37M
5.42%
33.79%
Information Technology Services
Technology
Link
United States of America
Toronto