Converge Technology Solutions Announces USD $4.3m Contract with Leading US Financial Institution

TORONTO, June 26, 2019 /CNW/ - Converge Technology Solutions Corp. ("Converge" or "the Company") (TSXV: CTS)  (FSE: 0ZB) (OTCQX: CTSDF) is pleased to announce that it has been awarded a USD $4.3m contract with a large US-based financial services company to deliver enterprise software solutions. Key Information Systems, a Converge family company traditionally focused on enterprise hardware, working alongside both Essex Technology Group, Inc. ("Essextec") and Lighthouse Computer Services ("Lighthouse"), will deliver enterprise class software in a cloud environment leveraging Red Hat solutions. Essextec and Lighthouse are both members of the Converge family of companies.

"Earlier this year, we worked with Essextec and Lighthouse to create a sales enablement program around software and had both teams visit the 145 sales people that are part of the Converge family across seven unique locations," said Shaun Maine, Chief Executive Officer of Converge. "While the feedback was overwhelmingly positive, we did not anticipate seeing results so quickly, especially out of our companies that are traditionally focused on hardware solutions."

Mr. Maine continued, "This contract, along with the various others our sales team have secured, further validates our belief that the cross-selling strategy we have implemented across all the organizations we have acquired to date has created an exciting opportunity to drive significant organic growth within our business. We believe that our software solutions will continue to make up larger and larger components of our revenue moving forward. In our view, this bodes extremely well for the future as many of our long-standing clients look to us to guide them through their cloud journey, including offering Red Hat solutions which we believe will be a powerful driver of growth moving forward."

About Converge Technology Solutions
Converge Technology Solutions is building a platform of regionally focused Hybrid IT solution providers that deliver best-of-breed solutions and services to clients. These capabilities are enhanced by advanced expertise in cloud solutions, artificial intelligence, blockchain, resiliency, and managed services, enabling Converge to address the business and IT challenges that public and private-sector organizations face today. To learn more about Converge, visit www.convergetp.com

SOURCE Converge Technology Solutions Corp.

Mary Anne Palangio, Chief Financial Officer, Converge Technology Solutions Corp., Email: [email protected], Phone: [phone]; Virtus Advisory Group, Shareholder Inquiries, Email: [email protected], Phone: [phone]

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https://convergetp.com/