Converge Technol - CTSDF STOCK NEWS

Converge Technology Solutions Corp. has successfully refinanced its existing $300 million ABL credit facility, securing a new five-year $500 million global revolving credit facility. This new facility includes a $100 million accordion feature, expanding total borrowing capacity to $600 million. The more favorable borrowing terms will support the company’s global expansion and acquisition strategy. Additionally, Converge plans to initiate a Normal Course Issuer Bid to repurchase up to 5% of its common shares, which it believes will enhance shareholder value.

Converge Technology Solutions Corp. (CTSDF) plans to release its second quarter results for the period ended June 30, 2022, on August 9, 2022, following market close. A conference call will be held on August 10, 2022, at 8:00 AM ET, hosted by CEO Shaun Maine and Interim CFO Matt Smith. Participants can access the call via a webcast or dial-in registration. The Company specializes in software-enabled IT and Cloud Solutions, offering services in analytics, application modernization, and cybersecurity among others.

Converge Technology Solutions Corp. has announced the acquisition of Notarius by its subsidiary Portage CyberTech, marking their 33rd acquisition since October 2017. Notarius specializes in digital trust solutions, including secured and trusted electronic signatures. This strategic acquisition enhances Portage's offerings, positioning it as an industry leader in digital identity and signature solutions. Notarius' capabilities will bolster Converge’s growth in North America, expanding its client base and enhancing service offerings.

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.