Converge Set to Transform IT Landscape with Major Acquisition

Converge Secures Court Approval for H.I.G. Capital Acquisition

Converge Technology Solutions Corp. (TSX: CTS) is thrilled to announce a significant milestone in its journey as the Ontario Superior Court of Justice has granted a final order approving its acquisition by H.I.G. Capital. This approval marks a pivotal moment for the company as it prepares to enhance its offerings and propel future growth.

Details of the Acquisition

The approved plan of arrangement involves 16728421 Canada Inc., an affiliate of H.I.G. Capital, which is set to acquire all outstanding common shares of Converge. Specifically, this acquisition will exclude shares held by certain shareholders who have entered rollover equity agreements. It’s essential for shareholders to remain aware of this arrangement as it directly impacts them.

Steps Toward Completion

Looking ahead, the completion of the arrangement is anticipated soon, pending the satisfaction or waiver of remaining conditions outlined in the Arrangement Agreement. This agreement was initially entered into on February 6, and subsequently amended, reflecting the evolving nature of the deal. The expected completion dates may shift as the company navigates through this complex process.

Regulatory approvals necessary for this arrangement have been successfully obtained, indicating a strong commitment to compliance and transparency throughout this transition.

Support for Shareholders

As part of this transition, Converge ensures that shareholders who have questions about submitting their shares can reach out to Computershare Investor Services Inc. They act as the depositary for this arrangement. Shareholders can contact them toll-free at 1-800-564-6253 within North America or 1-514-982-7555 from outside these regions.

About Converge Technology Solutions Corp.

Converge is on a mission to redefine the way businesses engage with IT solutions. Since its inception in 2017, the company has focused on delivering innovative, outcome-driven solutions that simplify technology challenges for its clients. As a leading provider in IT and Cloud Solutions, Converge leverages a blend of local knowledge and global strength.

Innovative Solutions for Clients

With expertise spanning advanced analytics, artificial intelligence, cybersecurity, and cloud platforms, Converge empowers businesses to streamline operations and foster innovation. The company adopts a strategic AIM (Advise, Implement, Manage) methodology, ensuring that its solutions are not only tailored to fit the unique needs of each customer but are also designed to integrate seamlessly with existing systems.

Commitment to Visionary Leadership

Through this acquisition, Converge is positioned to enhance its capabilities even further, aiming to deliver transformative IT solutions and foster a culture of innovation. The integration with H.I.G. Capital promises a wealth of resources and expertise that can skyrocket Converge’s growth trajectory.

Frequently Asked Questions

What does the court approval signify for Converge?

The court approval signifies that Converge's acquisition by H.I.G. Capital is officially greenlit, paving the way for the completion of the arrangement.

How will this acquisition affect shareholders?

Shareholders will be able to submit their shares as part of the arranged acquisition, ensuring they benefit from the transition.

What is the timeline for completing the acquisition?

The acquisition is expected to be completed shortly, pending the satisfaction of certain conditions outlined in the Arrangement Agreement.

Who can shareholders contact for assistance?

Shareholders can contact Computershare Investor Services Inc. for assistance regarding the submission of their shares.

What does Converge aim to achieve post-acquisition?

Post-acquisition, Converge aims to leverage enhanced resources to deliver innovative IT solutions that meet the evolving needs of its clients.

About The Author

My name is Dylan Bailey, and I am 28 years old. I am an author and an expert on the stock market who specializes in publicly traded companies. Early fascination with the stock market inspired me to seek a finance degree and then delve deeply into the world of stocks. I have developed over the years my abilities to spot investment prospects, assess business performance, and analyze market trends.

My books and articles try to help regular investors understand the nuances of the stock market. Anyone can, in my opinion, make wise investment choices and succeed financially if they have the correct information and resources. In my writing, I combine in-depth research with practical insights and advice that can be put into action. This is done with the intention of assisting readers in navigating the constantly shifting landscape of publicly traded companies.

In addition to writing, I also host webinars and workshops, where I give presentations and share my knowledge with a wider audience. I also write for top financial journals and show up as a guest analyst on financial news shows. I like to travel, spend time with my family, and keep active by playing different sports when I'm not buried in market research.

My goal is to enable people to choose wisely and consciously in their investments, so taking charge of their financial futures. By my work, I hope to create a community of informed and self-assured investors prepared to take advantage of the chances presented by the stock market.

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