Mr. Shaun Maine reports
CONVERGE ANNOUNCES CONCLUSION OF STRATEGIC REVIEW PROCESS
Converge Technology Solutions Corp.'s board of directors has concluded the company's strategic review process, first announced on Nov. 22, 2022, which was overseen by a special committee of independent directors of the board with assistance from financial and legal advisers.
While the Company received a number of proposals for transactions involving the Company in the course of the strategic review process, following a thorough review and evaluation of the proposals and alternatives available to the Company, the Special Committee concluded that none of such proposals would be in the best interests of the Company. The Special Committee further recommended that the Board endorse the Company's continued execution of its business plans as an independent publicly held company under the leadership of its Group Chief Executive Officer Shaun Maine. The Special Committee's recommendation has been accepted and endorsed by the Board. Accordingly, the work of the Special Committee has been completed and the Special Committee has been dissolved.
About Converge Technology Solutions Corp.
Converge Technology Solutions Corp. is a software-enabled IT & 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 multi-faceted approach enables Converge to address the unique business and technology requirements for all clients in the public and private sectors.
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