Converge Technology Solutions Corp. Acquires Workgroup Connections, Inc.
TORONTO, Dec. 2, 2020 /CNW/ - Converge Technology Solutions Corp. ("Converge") (TSXV: CTS) (FSE: 0ZB) (OTCQX: CTSDF), a national platform of regionally focused Hybrid IT solution providers in the U.S. and Canada, is pleased to announce that it has acquired Workgroup Connections, Inc. ("Workgroup Connections" or the "Company"), a technology solutions company that helps businesses through leading-edge cloud, software development, and licensing services and solutions.
Headquartered in St. Louis, MO, and Denver, CO, Workgroup Connections enables clients to increase productivity by helping them make the most out of IT resources and technologies through Hybrid-Cloud solutions, Agile Software Development, and software licensing services. Combining in-depth business experience and high-level technical expertise, Workgroup Connections partners with organizations to grant them a better understanding of their data and to assist them in meeting and exceeding their business objectives. Furthermore, the Company is a long-standing IBM Partner since 1995 and an Amazon Web Services Partner that has successfully served the needs of hundreds of organizations, including Fortune 500 companies across industries such as manufacturing, IT, financial services, utilities, and healthcare. Workgroup Connections had trailing twelve month revenue of CAD$14.7 million for the period ending September 30, 2020 and is expected to be immediately accretive on an adjusted EBITDA basis. The purchase price was US$1.1 million (approx. CAD$1.4 million).
"Becoming a part of a larger organization gives us more resources to draw from when we go to help our clients," said Carol Schreiber-Stern, President of Workgroup Connections. "When I started this business 25 years ago, I did it by combining my background of corporate management and technical information systems expertise. We are choosing to join the Converge family now because we understand the technical and business problems that organizations today face, and we believe Converge's model is the best way to address those."
"The addition of Workgroup Connections marks another boost to Converge's already considerable array of cloud and software offerings," said Shaun Maine, CEO of Converge. "On top of its experience with big players in the current North American market, Workgroup Connections brings skilled resources who collectively hold over 80 certifications from partners who are currently driving innovation in IT – including AWS, IBM, and Microsoft – to our team. The technical and business resources of our newest Converge family member will provide specialized skill sets for our practice areas supporting our Central and Western regions."
Workgroup Connections marks the fourteenth acquisition completed by Converge since October 2017. Converge's family of companies also includes Corus Group, LLC; Northern Micro, Inc.; 10084182 Canada Inc. operating as Becker-Carroll; Key Information Systems, Inc.; BlueChip Tek, Inc.; Lighthouse Computer Systems, Inc.; Software Information Systems LLC.; Nordisk Systems, Inc.; Essex Technology Group, Inc.; Datatrend Technologies, Inc.; VSS, LLC; Solutions P.C.D., Inc, and Unique Digital, Inc.
About Converge
Converge Technology Solutions Corp. is a North American IT Solution Provider focused on delivering industry leading solutions and services. Converge's regional sales and services organizations deliver advanced analytics, cloud, cybersecurity, and managed services offerings to clients across various industries. Converge supports these solutions with talent expertise and digital infrastructure offerings across all major IT vendors in the marketplace. This multi-faceted approach enables Converge to address the unique business and technology requirements for all clients in the public and private sectors. For more information, visit convergetp.com.
About Workgroup Connections, Inc.
Headquartered in St. Louis for 25 years, Workgroup Connections provides software design, agile development, implementation, and training services focused on business process automation, cloud strategies, collaboration, eDiscovery, and business intelligence. Workgroup Connections is a long-standing IBM Gold Partner and an Amazon Web Services Partner. Over the years, it has successfully served the needs of hundreds of organizations, including Fortune 500 companies in manufacturing, IT, financial services, utilities, and healthcare.
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SOURCE Converge Technology Solutions Corp.
Converge Technology Solutions Corp., Email: [email protected], Phone: 416-360-1495
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