Welcome to our dedicated page for Converge Technol news (Ticker: CTSDF), a resource for investors and traders seeking the latest updates and insights on Converge Technol stock.
The CTSDF news page provides an archive of announcements and press releases related to Converge Technology Solutions Corp., the company historically associated with this ticker. These items trace Converge’s evolution as a services-led, software-enabled IT & Cloud solutions provider and document its subsequent acquisition and combination into Pellera Technologies.
News coverage includes detailed communications about the all-cash acquisition of Converge by an affiliate of H.I.G. Capital, the shareholder approval process, and court orders approving the statutory plan of arrangement. Additional releases describe the merger of Converge with Mainline Information Systems and the rebranding of the combined organization as Pellera Technologies, outlining the rationale for combining their IT solutions capabilities.
Beyond transaction-related updates, the archive features company announcements on IT and cloud solution offerings, such as the launch of Converge’s Data & AI Design Studio. That program is described as a comprehensive framework to help organizations at different stages of their AI journey address challenges in data quality, privacy and security, infrastructure, and financial justification through structured workshops and design engagements.
Investors, analysts, and researchers can use this news history to follow key themes in Converge’s story: its focus on advanced analytics, AI, cloud platforms, cybersecurity, digital infrastructure, and workplace transformation; the development of its AIM (Advise, Implement, Manage) methodology; and the steps leading to its acquisition and integration into Pellera Technologies. Bookmarking this page allows for convenient reference to the company’s historical announcements and strategic milestones.
Converge Technology Solutions Corp. (TSX: CTS) has completed its 19th acquisition, acquiring Dasher Technologies, an IT solution provider based in Silicon Valley, known for its innovative solutions over 20 years. Dasher holds a strong position as the fifth largest HPE partner in North America, enhancing Converge's capabilities in cloud and managed services. This acquisition aims to expand Converge's market presence, particularly on the West Coast, strengthening client relationships and technical expertise.
Converge Technology Solutions Corp. reported strong financial results for the fourth quarter and full year ended December 31, 2020. Fourth quarter revenue surged 35% to $289.6 million, while annual revenue rose 38% to $948.8 million. Adjusted EBITDA for Q4 increased 98% to $23.4 million, and annual adjusted EBITDA climbed 92% to $60.5 million. Despite a net loss of $4.2 million for the year, the company raised $109 million in equity and completed five acquisitions in 2020, enhancing its market position.
Converge Technology Solutions Corp. (CTSDF) will release its fourth quarter and annual results for the fiscal year ending December 31, 2020, on March 9, 2021, after market close. A conference call will follow at 5:00 PM EST, hosted by CEO Shaun Maine and CFO Carl Smith. Participants can join via local and toll-free dial-in numbers, with a recording available post-call. Converge specializes in Hybrid IT solutions, offering services in analytics, cloud, cybersecurity, and managed services to various sectors across North America.
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Converge Technology Solutions Corp. has successfully acquired Accudata Systems, Inc., marking its 18th acquisition since October 2017. This acquisition strengthens Converge's market presence in Texas and enhances its IT capabilities, including cloud, cybersecurity, and managed services. With 38 years of experience, Accudata adds valuable customer relationships and industry knowledge. The integration is expected to provide growth opportunities for both Converge and Accudata, benefiting clients with improved service offerings and enhanced value.
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Converge Technology Solutions has acquired Unique Digital Technology, an IT solutions provider based in Texas, known for its expertise in cloud and data protection. This acquisition aims to enhance Converge's Software Enabled Hybrid IT solutions portfolio. Unique Digital's CEO, Andy Pratt, will maintain his role, and the existing team will remain in place. The acquisition is part of Converge's growth strategy, marking its thirteenth acquisition since October 2017. Leveraging Unique Digital's capabilities, Converge aims to strengthen its position in the North American IT market, particularly in Texas.