Converge Technol - CTSDF STOCK NEWS

Converge Technology Solutions Corp. (CTSDF) achieved a significant milestone by ranking #39 out of 500 in CRN's 2021 Solution Provider 500 List, an 11-place improvement from last year's #50. The list showcases leading IT channel partners based on revenue and performance, with the combined revenue of ranked companies exceeding $403 billion. CEO Shaun Maine expressed pride in the team's accomplishments and their recognition within a competitive industry. This ranking highlights Converge's influence and commitment to delivering top-tier IT solutions and managed services across various sectors.

Converge Technology Solutions Corp. (CTSDF) has achieved Diamond Partner status with Palo Alto Networks, placing it among the top 2% of partners globally. This status aligns with the stringent performance and capability requirements of Palo Alto's NextWave Channel Partner Program. As a Diamond Partner, Converge enhances its technical pre-sales and delivery resources, enabling greater differentiation and profitability. CEO Shaun Maine emphasized the achievement as a testament to the team's effort, furthering Converge's commitment to client success.

Converge Technology Solutions Corp. has appointed Thomas Volk to its Board of Directors, effective May 20, 2021. Volk, a seasoned executive with extensive experience in leading global technology enterprises, will also assume the role of Board Chair after the upcoming Annual General Meeting, taking over from Gordon McMillan. Shaun Maine, the CEO, highlighted Volk's prior success with European market expansion and managed services implementation as crucial for Converge's growth strategy. McMillan will continue to advise the company on acquisitions.

Converge Technology Solutions Corp. (CTSDF) has attained Titanium partner status with Intel, recognizing its superior business and technical expertise in developing innovative customer solutions. This prestigious designation provides Converge exclusive access to proprietary information, engineering support, and enhanced technical assistance from Intel. The partnership focuses on advancing multi-cloud architecture, data center modernization, and IoT solutions, aiming to enhance client offerings across public and private sectors.

Converge Technology Solutions (CTSDF) reported a strong Q1 2021 with revenue rising 28% to $310.2 million and gross profit increasing 24% to $67.8 million. Adjusted EBITDA improved significantly to $18.8 million from $11.0 million, while net income reached $3.7 million, recovering from a loss of $1.4 million last year. The company closed an $86.5 million equity financing, graduated to TSX, and expanded its credit facility. Key acquisitions enhance capabilities in analytics and security. Converge also received five IBM awards, reinforcing its market position.

Converge Technology Solutions Corp. (CTSDF) will announce its Q1 financial results for the period ending March 31, 2021, on May 11, 2021, after market close. A conference call will follow at 5:00 PM EST, hosted by CEO Shaun Maine and CFO Carl Smith. Investors can access the call via Toronto dial-in or toll-free numbers, and a live audio webcast will be available on their website. Converge specializes in IT and Cloud solutions, providing advanced analytics, cybersecurity, and managed services.

Converge Technology Solutions Corp. (CTSDF) has partnered with Lucira Health, Inc. to launch the LUCIRA™ CHECK IT test kit, which recently received Emergency Use Authorization (EUA) from the FDA for over-the-counter sale. This test kit delivers PCR-quality molecular results in 30 minutes, allowing for self-administration at home. Priced at $55, it is authorized for both symptomatic and asymptomatic individuals. Converge’s LUCI PASS™ enables secure verification of test results via smartphones, enhancing access to health options and facilitating safe in-person gatherings and events.