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Converge Technology Solutions Corp. To Acquire PC Specialists, Inc. d/b/a Technology Integration Group

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Rhea-AI Sentiment
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Rhea-AI Summary

Converge Technology Solutions Corp. (TSX:CTS) has announced the acquisition of PC Specialists, Inc., operating as Technology Integration Group (TIG), marking its 31st acquisition since October 2017. Based in San Diego, CA, TIG specializes in optimized IT solutions, boasting over 20 branch offices across North America. This acquisition aims to enhance Converge's market presence, offering expanded services in the public and private sectors. The collaboration is expected to capitalize on TIG's industry expertise, particularly in state and local government sectors, further strengthening Converge's operations in North America.

Positive
  • Expansion of market presence in North America, especially in public sector.
  • Leverage TIG's expertise to enhance service offerings.
  • Strengthens Converge's portfolio with diversified IT solutions.
Negative
  • None.

California based TIG marks Converge’s 31st announced acquisition.

TORONTO and GATINEAU, Québec, May 19, 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 signed definitive agreements to acquire PC Specialists, Inc. d/b/a Technology Integration Group (“TIG”). Headquartered in San Diego, CA with 20 offices across North America, TIG specializes in optimized performance solutions and critical business support.

From software and hardware procurement to discovery assessments, strategic planning, deployment, data center optimization, IT asset management and cloud computing, TIG offers custom-built IT solutions for clients around the globe, with a major presence in the United States and Canada. With 20+ branch locations, TIG serves a wide-reaching and diverse client base in enterprise, government, education, and SMB markets. Always offering a personal, consultative approach to identifying and fulfilling organizations’ specific computing needs, TIG customizes innovative technology that best fits any unique infrastructure requirement.

“TIG is elated to be joining forces with Converge,” said Tom Janecek, CEO and CFO of Technology Integration Group. “We are extremely proud of our 40+ year history and have no doubt that our track record of success as a multi-national service and solutions integrator will continue as part of Converge. We are excited for the strategic direction and vision of the Company and look forward to a bright future for our employees, clients, and business partners.”

“Converge is excited to continue our strategy of growth and global expansion through the announced addition of Technology Integration Group to our portfolio of companies,” stated Shaun Maine, CEO of Converge. “TIG brings strong industry expertise across State, Local, and Education that we can leverage across North America and gives us additional presence in Canada, adding to our strength of offerings with the Canadian government. The combined strength of Converge and TIG’s ability to serve our clients in markets around the world will present an exciting opportunity for us to continue reaching our clients and solving their solution needs wherever they may be.”

PC Specialists, Inc. d/b/a Technology Integration Group marks the thirty-first 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.; Interdynamix Systems; and Creative Breakthroughs, Inc.

About PC Specialists, Inc. d/b/a Technology Integration Group
TIG is a premier full-service IT Solutions Provider with 40 years of experience providing end-to-end technology and IT infrastructure solutions in 70 countries. In addition to the company’s headquarters in San Diego, TIG has 20+ offices located in Albuquerque, Atlanta, Denver, Honolulu, Indianapolis, Irvine, Knoxville, Los Angeles, Pensacola, Philadelphia, Portland, Richmond, Sacramento, San Antonio, Seattle, Tampa, Ottawa & Toronto, Canada and Shanghai, China. For more information visit www.tig.com.

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 TIG?

The acquisition enhances Converge's market presence in North America, particularly in the public sector, and leverages TIG's expertise to improve service offerings.

When was the acquisition of Technology Integration Group announced?

The acquisition was announced on May 19, 2022.

What are the expected impacts of the acquisition on Converge's business?

The acquisition is expected to expand Converge's service capabilities and client reach across various markets in North America.

How many acquisitions has Converge made since October 2017?

Converge has made 31 acquisitions since October 2017.

Where is Technology Integration Group headquartered?

TIG is headquartered in San Diego, California.

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