CONVERGE TECH SLTN CORP - CTSDF STOCK NEWS

Converge Technology Solutions Corp. has announced its 32nd acquisition, acquiring Germany-based companies Gesellschaft für digitale Bildung (GfdB), Institut für moderne Bildung (IfmB), and DEQSTER. This strategic acquisition aims to enhance Converge's offerings in the education sector in Germany, enabling schools and universities to implement comprehensive digital solutions. The new alliance will create a stronger portfolio, combining services from all entities involved. This expansion underscores Converge's commitment to becoming a leading education partner in the German market.

Converge Technology Solutions Corp. (CTSDF) announced it received the Pure Storage Advantage Partner of the Year Award at the Pure Storage Americas Partner Forum on June 7, 2022. The company achieved this recognition due to its impressive sales performance and innovation in delivering storage and data management solutions across the United States. CEO Shaun Maine praised the team for their dedication and noted the growth of the partnership with Pure Storage. This award highlights Converge's commitment to providing cutting-edge IT and cloud solutions to a diverse client base.

Converge Technology Solutions Corp. (CTSDF) announced its ranking of 36th on CRN's 2022 Solution Provider 500 list, moving up three spots from the previous year. This annual list ranks North America’s largest solution providers by revenue, representing a combined revenue of over $434 billion. CEO Shaun Maine expressed pride in the team's continued success and recognition as a leading integrator and IT consultant. This achievement highlights Converge's growing influence in the IT and Cloud Solutions sector.

Converge Technology Solutions Corp. announced the availability of its IBM Power for Google Cloud Marketplace solution, expanding access to clients in Frankfurt, Germany. This initiative builds upon their existing Google Cloud Marketplace offering, enhancing infrastructure-as-a-service solutions with IBM Power Systems capabilities. As a Google Cloud partner, Converge focuses on migrating enterprise workloads to the cloud with minimal disruption. The company recently achieved Google Cloud Infrastructure Specialization, demonstrating its technical proficiency and commitment to advancing client infrastructure modernization.

Converge (CTSDF) announced a licensing agreement with IBM to enhance its cloud capabilities via the Converge Enterprise Cloud on IBM Power for Google Cloud Platform. This partnership aims to streamline procurement and billing through Google Cloud Marketplace, and improve customer support with integrated services. The initiative focuses on modernizing enterprise workloads on IBM Power using Google Cloud Services, ultimately optimizing hybrid cloud strategies for clients across North America and Europe. Converge's Professional and Managed Services further support operational efficiency improvements for clients.

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.

Converge Technology Solutions Corp. (OTCQX: CTSDF) has been awarded the Ingram Micro Cloud Summit ‘22 Reseller Partner of the Year, marking its third consecutive win. This accolade recognizes Converge's significant business growth and successful delivery of digital transformation solutions via the Ingram Micro Cloud Marketplace. The award ceremony is part of the annual Cloud Summit conference in Miami Beach, Florida. CEO Shaun Maine emphasized the importance of their partnership with Ingram Micro in continuing to provide competitive solutions for clients.

Converge Technology Solutions announced a significant achievement at the Ingram Micro Cloud Summit '22, where the company received the Women in Cloud Employer of the Year award. This recognition highlights Rochelle Manns, Vice President of Cloud Platforms, for her leadership and innovation, earning her the Female Leader of the Year Award. The awards celebrate individuals and businesses that support women in technology. Converge's participation in this inaugural event emphasizes its commitment to diversity and innovation in the IT sector.

Converge Technology Solutions Corp. reported a robust performance for Q1-2022, with net revenue soaring 77% year-over-year to $550 million. The organic gross revenue growth stood at approximately 7.2%. Gross profit rose 60.8% to $109 million, while Adjusted EBITDA increased 58% to $29.6 million. The company also achieved a 25% rise in Adjusted EPS to $0.10 per share. Notably, the bookings backlog grew to around $472 million, with significant acquisitions enhancing revenue streams. Converge is poised for substantial growth as supply chain conditions improve.