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CONVERGE TECH SLTN CORP (CTSDF) is a services-led, software-enabled IT & Cloud Solutions provider, focusing on delivering cutting-edge solutions across various industries. The company offers advanced analytics, artificial intelligence, application modernization, cloud platforms, cybersecurity, digital infrastructure, and digital workplace offerings. Recent achievements include being named Broadcom Software's 2023 North America Fastest Growth Cybersecurity Partner and VMware by Broadcom's 2023 Americas Technical Enablement Partner of the Year. CONVERGE aims to address unique business and technology requirements for clients in the public and private sectors.
Converge Technology Solutions Corp. (CTSDF) reported a record-breaking Q2 2021, achieving a 52% revenue increase to $345.3 million and a 43% rise in gross profit to $78.2 million. Adjusted EBITDA surged 86% to $21.7 million, while net income improved to $1.0 million from a $4.4 million loss a year prior. Notably, the company completed key acquisitions and secured $172.5 million in equity financing. Converge is also expanding into Europe and developing a cybersecurity-focused SaaS entity, Portage CyberTech.
Converge Technology Solutions Corp. has completed its acquisition of a majority interest in REDNET AG, marking its first acquisition in Europe and the 23rd overall since October 2017. Founded in 2004, REDNET specializes in IT services for education, healthcare, and government sectors. This acquisition enhances Converge's global footprint and service offerings, especially in the public sector. REDNET's focus on sustainability and high-quality service is expected to provide strategic synergies and broaden Converge's client base in Germany.
Converge Technology Solutions Corp. (CTSDF) will announce its second quarter results for the period ending June 30, 2021, on August 11, 2021, after market close. A conference call to discuss these results is scheduled for August 12, 2021, at 9:00 AM EST, featuring CEO Shaun Maine and Interim CFO Matt Smith. The call will include a question-and-answer segment. A live audio webcast will be available on the company's investor relations website. Converge is a provider of IT and Cloud Solutions focused on delivering advanced analytics, cloud services, and cybersecurity.
Converge Technology Solutions Corp. (CTSDF) has been awarded North America Partner of the Year and CORE Partner of the Year at Ingram Micro's IBM Blue Series Summit 2021. These accolades recognize Converge as a leading IBM partner, highlighting its strong growth and innovation in IT solutions. The awards stem from its performance in previous IBM Beacon and Excellence Awards, as well as being one of the fastest-growing IBM partners. The CEO emphasized the importance of this relationship with IBM and Ingram Micro, which enhances their capability to deliver top-notch solutions to clients.
Converge Technology Solutions Corp. (TSX: CTS, OTCQX: CTSDF) has announced the acquisition of Vicom Infinity, Inc. and Infinity Systems Software, Inc. These companies specialize in IBM mainframe solutions and services, enhancing Converge's capabilities in cloud and IT solutions. This marks the twenty-first and twenty-second acquisitions since 2017, expanding Converge's client offerings and resources. The acquisition aims to strengthen Converge's partnership with IBM and enhance its service delivery across North America.
Converge Technology Solutions Corp. (CTSDF) announced significant changes to its board and management team during its annual general meeting. Thomas Volk will become Board Chair, while Darlene Kelly joins the board, both bringing substantial industry experience to aid in expanding operations into Europe. Matt Smith is appointed interim CFO, succeeding Carl Smith, who departs for other opportunities. Additionally, Julianne Belaga is named Chief Legal Officer, reinforcing the company's focus on growth and acquisitions. These changes aim to position Converge as a leading IT services firm globally.
Converge Technology Solutions Corp. (OTCQX: CTSDF) has completed the acquisition of ExactlyIT, a managed IT services provider based in North Carolina. This marks Converge's 20th acquisition since October 2017. ExactlyIT offers a range of services, including Azure Cloud, Google Cloud, and cybersecurity. The firm serves clients across North America and Europe, leveraging its competency center in Mexico for cost-efficient, high-quality service delivery. The acquisition is expected to enhance Converge's capabilities in managed and cloud services, accelerating the rollout of solutions to clients.
Converge Technology Solutions Corp. (OTCQX: CTSDF) announced that its subsidiary, Dasher Technologies, has been recognized as the North America SMB Partner of the Year by Hewlett Packard Enterprise (HPE) for 2021. This award highlights Dasher's commitment to customer excellence and strong financial performance. The recognition underscores the advanced partnership between Converge and HPE, presenting opportunities for growth within the organization. The awards ceremony will take place on June 23, 2021, during HPE Discover.
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