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Converge Technology Solutions Corp
Symbol CTS
Shares Issued 214,896,369
Close 2022-06-15 C$ 6.06
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Converge Technology to acquire German organizations

2022-06-15 10:41 ET - News Release

Mr. Shaun Maine reports

CONVERGE TECHNOLOGY SOLUTIONS CORP. TO ACQUIRE GESELLSCHAFT FUR DIGITALE BILDUNG ("GFDB"), INSTITUT FUR MODERNE BILDUNG ("IFMB"), AND DEQSTER

Converge Technology Solutions Corp. has entered into a definitive agreement to acquire Germany-based organizations Gesellschaft fur digitale Bildung (GfdB), Institut fur moderne Bildung (IfmB) and Deqster.

Headquartered in Germany, GfdB, IfmB and Deqster are all education-market-focused organizations enabling schools and universities to implement their digital future. GfdB and IfmB are full-service information technology suppliers for education, offering everything from hardware and software to advanced training and comprehensive technical/consulting services. Deqster specializes in the development and production of equipment for digital learning and working, with a broad portfolio comprising tablet cases, protective sleeves, digital pencils and more.

With these acquisitions, and in combination with previously acquired Rednet, a Converge company, and Visucom, a Converge company, Converge will be a leading education partner in the German market. The new alliance between GfdB, IfmB, Deqster, Rednet and Visucom allows all organizations to enhance and strengthen their solutions, services and offering, as well as develop new strategies to better serve the education sector in Germany. This enhanced portfolio will include a tailored 360-degree approach that furthers education to professional and managed services, logistics and system configuration, technical services, and parental financing.

"As one of the leading providers of complete IT solutions for the education market for many years, GfdB has ensured digitalization in schools and education institutions is happening in a sustainable way," stated Mathias Harms, chief executive officer of GfdB. "Our new strategic partnership with Converge will allow us to significantly enlarge our range of products and services, as well as offer an even better 360-degree approach to our clients. Additionally, with the new alliance between Gesellschaft fur digitale Bildung, Institut fur moderne Bildung, Deqster, Rednet, a Converge company, and Visucom, a Converge company, we are excited to strengthen our competency in the areas of IT equipment and services for companies in the education sector."

"I am thrilled that our new partnership with Converge will allow us to enlarge our portfolio and to offer holistic solutions," said Cuma Saado, CEO of Deqster. "By bundling Deqster's competencies with Converge's portfolio of companies and strengthening cooperation, our sales partners will benefit since we can offer them a significantly more comprehensive service. As a manufacturer of equipment for digital learning and working, we will also address client wishes in a more targeted manner and will be able to develop 360-degree solutions together, which are tailored perfectly to education institutions."

"Together with GfdB and IfmB, Rednet, a Converge company, will be able to offer German educational institutions an even more thorough and holistic service portfolio aimed at making digital schools a success," stated Barbara Weitzel, CEO of Rednet, a Converge company. "With Deqster, we also have another accessory specialist for the education market, which further expands our joint portfolio following the acquisition of Visucom, a Converge company."

"The additions of GfdB, IfmB and Deqster to Converge's portfolio of companies in Germany will be a major leap forward in our ability to strongly serve the German market," stated Shaun Maine, CEO of Converge. "Building on the successes of Rednet, a Converge company, and Visucom, a Converge company, GfdB, Deqster and IfmB will also allow us to become the leading education partner in Germany and will help us continue growing solution offerings and services for our clients in Europe."

GfdB, IfmB and Deqster mark the 32 acquisition announced by Converge or its affiliates 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 PCD Inc.; Unique Digital Inc.; Workgroup Connections Inc.; Vivvo Application Studios Ltd.; Vicom Computer Services Inc.; CarpeDatum LLC; Accudata Systems Inc.; Dasher Technologies Inc.; ExactlyIT Inc.; REDNET GmbH; Vicom Infinity Inc.; Infinity Systems Software Inc.; LPA Software Solutions LLC; Opin Digital, Inc.; Paragon Development Systems Inc.; Visucom GmbH; 1CRM Systems Corp.; Interdynamix Systems; Creative Breakthroughs Inc.; and PC Specialists Inc., doing business as Technology Integration Group.

About Converge Technology Solutions Corp.

Converge Technology Solutions is a software-enabled IT and cloud solutions provider focused on delivering industry-leading solutions and services. Converge's global solution approach delivers advanced analytics, application modernization, cloud, cybersecurity, digital infrastructure and digital workplace offerings to clients across various industries. The company supports these solutions with advisory, implementation and managed services expertise across all major IT vendors in the marketplace. This multifaceted approach enables Converge to address the unique business and technology requirements for all clients in the public and private sectors.

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