Converge Buys This California-Based IT Solutions Provider, With 40+ Year History

Software-enabled IT & Cloud Solutions provider Converge Technology Solutions Corp. CTS CTSDF has agreed to acquire PC Specialists, Inc. d/b/a Technology Integration Group (TIG). Financial terms were not disclosed.

What Happened: Converge Technology inked a definitive agreement to buy TIG, headquartered in San Diego, CA, with 20 offices across North America. TIG specializes in optimized performance solutions and critical business support.

TIG serves a wide-reaching and diverse client base in enterprise, government, education, and SMB markets.

Why It's Important: TIG offers custom-built IT solutions for clients around the globe, with 40 years of experience and a significant presence in the U.S. and Canada.

"TIG brings strong industry expertise across State, Local, and Education that we can leverage across North America and gives us additional presence in Canada, adding to our strength of offerings with the Canadian government," commented Converge CEO Shaun Maine.

The deal marks the thirty-first acquisition announced by Converge or its affiliates since October 2017.

Converge Technology held cash of C$280.2 million as of March 31, 2022.

Price Action: CTS shares closed higher by 9.68% at C$7.25 on TSX on Thursday.

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Posted In: CanadaM&ANewsSmall Cap