#Canada #H.I.G. Capital #Toronto #Converge Technology

Converge Technology Solutions Secures Shareholder Approval for Acquisition

Converge Technology Solutions Corp. recently reached a pivotal point in its corporate journey as shareholders approved the acquisition by H.I.G. Capital, a significant venture that promises to enhance the company's reach and capabilities in the IT sector. This decision, validated at a special shareholder meeting held on April 10, 2025, showcases a strong vote of confidence from Converge's investors.

The Details of the Acquisition

The shareholders overwhelmingly backed the special resolution concerning the acquisition, with 98.85% of the votes favoring the deal. The vote included both in-person and proxy participants, reflecting a vibrant engagement from the shareholder community. The aggregate of 131,318,378 votes represented approximately 69.63% of all outstanding shares, a remarkable turnout that underscores the importance of this transaction to the company and its stakeholders.

Under the terms of this acquisition, shareholders are set to receive cash consideration of C$6.00 per common share, with provisions made for certain shares held by Rollover Shareholders, who have entered rollover equity agreements with the acquiring party, H.I.G. Capital. This arrangement was thoroughly detailed in the company's management information circular, disseminated to shareholders prior to the vote, elucidating the implications and next steps following the acquisition approval.

Next Steps in the Process

Following the favorable vote, Converge will seek a final order from the Ontario Superior Court of Justice to sanction the acquisition at a hearing anticipated on April 16, 2025. With expectations that the acquisition will be finalized around April 22, 2025, the company stands on the cusp of a new era, aligning itself with H.I.G. Capital's robust portfolio and extensive resources.

This transition represents more than just a financial deal; it symbolizes a strategic vision aiming to reshape how businesses approach and utilize IT solutions. Converge has established itself as a provider of advanced analytics, AI, cloud computing, and cybersecurity, focusing on human-centered technology solutions. The collaboration with H.I.G. Capital is likely to bolster these offerings further, promoting innovation and strategic growth.

A Focus on Innovation

Founded in 2017, Converge Technology Solutions has focused on handling intricate human-centered challenges through its services-led and software-enabled framework. The company prides itself on using its extensive knowledge base, local connections, and global resources to pioneer industry-leading solutions that allow businesses to innovate and operate efficiently.

With services that encompass everything from digital infrastructure to workplace transformation, Converge is poised to further its impact across various sectors. Its AIM (Advise, Implement, Manage) methodology is designed to align solutions with specific customer needs, ensuring clients benefit from innovative technologies seamlessly integrated with their existing systems.

Looking Forward

As the integration with H.I.G. Capital approaches, stakeholders can anticipate a strategic alignment that empowers Converge Technology Solutions to leverage expanded capabilities and resources, fostering a reimagined approach to IT services. The upcoming weeks promise to be a transformative period for the company, heralding a new chapter that prioritizes innovation and customer-centric solutions.

For more details about the acquisition and Converge's future, please visit Converge Technology Solutions. With each step forward, Converge remains committed to redefining the possibilities within the technology landscape, aiming to create substantial results for its clients and partners alike.