Converge Technology Solutions Corp. Completes Acquisition of Vicom Infinity and Infinity Systems Software

Rhea-AI Summary

Converge Technology Solutions Corp. (OTCQX: CTSDF) has completed the acquisition of Vicom Infinity and Infinity Systems Software, marking its 22nd and 23rd acquisitions since October 2017. Vicom Infinity specializes in IBM mainframe solutions, merging proven IT technology with innovative thinking. Infinity Systems Software has over 20 years of experience in providing software and services for IBM platforms, including IT consulting and disaster recovery. This acquisition will enhance Converge's portfolio and capabilities in delivering comprehensive IT and Cloud solutions.

Positive

• Strengthens Converge's expertise in IBM mainframe solutions.
• Enhances service offerings with Vicom Infinity and Infinity Systems' specialized knowledge.
• Continues Converge's growth strategy with 23 acquisitions since October 2017.

Negative

• None.

Vicom Infinity and Infinity Systems Software join Converge Company as part of Converge's portfolio of companies.

TORONTO and GATINEAU, QC, Aug. 31, 2021 /PRNewswire/ - 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 the closing of its previously announced acquisition of Vicom Infinity and Infinity Systems Software.

Vicom Infinity, a world-class IBM mainframe solutions provider, focuses on their philosophy of combining proven IT technology with the infinite possibilities of innovative thinking to transform IT functionality. Vicom Infinity's products and uncompromising service have helped clients successfully transform their IT enterprise systems.

Infinity Systems Software has been a leading supplier of software and services for IBM platforms for more than 20 years. Sister company to Vicom Infinity, Infinity Systems Software is proficient in IBM mainframe and offers a wide range of services including IT consulting, applications development, managed services, legacy modernization, disaster recovery, and customization.

Vicom Infinity and Infinity Systems Software marks the twenty-second and twenty-third acquisitions 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; 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.; and REDNET AG.

About Converge
Converge Technology Solutions Corp. is a software-enabled IT & Cloud Solutions provider focused on delivering industry-leading solutions and services. Converge's regional sales and services organizations deliver advanced analytics, cloud, and cybersecurity offerings to clients across various industries. The Company supports these solutions with managed services, digital infrastructure, and talent expertise offerings 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.

About Vicom Infinity & Infinity Systems Software
Vicom Infinity provides processing solutions for high-availability environments to ensure seamless IT transformation development. Vicom Infinity architects, implements, and supports customized solutions that fit the unique needs of each specific client and are widely known for their expertise in optimizing legacy investments while introducing new technologies and capabilities. Infinity Systems Software, sister company to Vicom Infinity, has been a leading software supplier and services provider for IBM platforms for more than 20 years. Infinity Systems Software is highly skilled in IBM mainframe environments, from legacy systems to IBM's sophisticated System z mainframes, including Linux-based platforms.

Together, Vicom Infinity and Infinity Systems Software bring a wealth of experience and expertise in IBM data center environments. By combining technology tools and business objectives, both organizations jointly deliver unique insight into IBM's technology roadmap and help clients find the right strategy to achieve business success.

View original content:https://www.prnewswire.com/news-releases/converge-technology-solutions-corp-completes-acquisition-of-vicom-infinity-and-infinity-systems-software-301366669.html

SOURCE Converge Technology Solutions Corp.

FAQ

What was the purpose of Converge's acquisition of Vicom Infinity and Infinity Systems Software?

The acquisition aims to strengthen Converge's capabilities in delivering IBM mainframe solutions and enhance its overall IT service offerings.

When was the acquisition of Vicom Infinity and Infinity Systems Software completed?

The acquisition was completed on August 31, 2021.

What impact does the acquisition have on Converge Technology Solutions Corp.?

The acquisition enhances Converge's portfolio, adding specialized knowledge and services in IBM environments, which is expected to improve its market position.

How many acquisitions has Converge completed since October 2017?

Converge has completed 23 acquisitions since October 2017.