Final Judicial Approval Achieved for H.I.G. Capital's Acquisition of Converge Technology Solutions

In a significant development for the technology sector, Converge Technology Solutions Corp. has announced that the Ontario Superior Court of Justice has granted a final order approving the acquisition plan involving H.I.G. Capital. The decision supports a strategic arrangement where all outstanding common shares of Converge, excluding specific shares held under rollover equity agreements, will be acquired by 16728421 Canada Inc., an affiliate of H.I.G. Capital.

After a thorough examination, the court's approval confirms the legal structure necessary for the proposed arrangement to move forward. Converge has been on a mission to transform how businesses think about IT since 2017, focusing on delivering outcomes-driven solutions that address human-centered challenges.

Anticipating a closing date around April 22, 2025, the acquisition is contingent on fulfilling all remaining conditions specified in the arrangement agreement established between the two entities earlier this year. Despite thorough initial evaluations, the journey required navigating various regulatory approvals, all of which have now been successfully acquired.

Converge is regarded as a services-led, software-enabled provider of IT cloud solutions, which leverages deep expertise and local connections alongside global resources. By utilizing advanced analytics, artificial intelligence, cloud platforms, and cybersecurity measures, Converge aims to empower businesses of all sizes to innovate, optimize operations, and achieve impactful results.

The acquisition by H.I.G. Capital is expected to further enhance Converge's capability in the technology landscape. H.I.G. is known for investing in well-established businesses, and this partnership could accelerate Converge’s ability to create industry-leading solutions, aligning perfectly with future technology shifts such as digital transformation and workplace enhancements.

The Road Ahead

As stakeholders' excitement builds, shareholders holding queries regarding the arrangement can reach out to Computershare Investor Services Inc., which is acting as the depositary in this transaction. They can assist with submitting shares connected to the acquisition. Potential investors or those interested in Converge's progressive offerings are encouraged to stay updated as the transaction closes and transitions unfold.

Conclusion

This acquisition marks a pivotal moment in the tech industry, reaffirming that strategic partnerships can lead to unprecedented growth and innovation. As Converge prepares for the next lurch in its evolution, the company remains committed to its vision — driven by an approach that prioritizes people in technology. The future seems bright for Converge as it reimagines IT solutions backed by H.I.G. Capital's robust capital support.

For more information or inquiries about Converge and its innovative solutions, visit convergetp.com and discover how they continue to drive change in the technology sector.