Converge Technology Solutions Corp. Agrees to Acquire Society for Digital Education ("GfdB"), Institute for Modern Education ("IfmB") and DEQSTER
Converge continues to expand its global footprint with its 32nd announced acquisition
- JUNE 2022 - TORONTO, ONTARIO, CANADA and GATINEAU, QUÉBEC, CANADA - Converge Technology Solutions Corp. ("Converge" or "the Company") (TSX:CTS) (FSE:0ZB) (OTCQX:CTSDF), a provider of software-based IT and cloud solutions, is pleased to announce that it has entered into a definitive agreement to acquire German-based Gesellschaft für digitale Bildung ("GfdB"), Institut für moderne Bildung ("IfmB") and DEQSTER. The German antitrust authorities still have to approve the transaction.
GfdB, IfmB and DEQSTER are headquartered in Germany, all focus on the education market and support schools and universities on their way into the digital future. GfdB and IfmB are full-service IT providers for education, offering everything from hardware and software to training and comprehensive technical and consulting services. DEQSTER specializes in the development and manufacture of devices for digital learning and working and has a broad portfolio of tablet cases, protective sleeves, digital pens and much more.
With these acquisitions and together with the previously acquired REDNET, A Converge Company, and Visucom, A Converge Company, Converge becomes the leading education partner in the German market. The new partnership between GfdB, IfmB, DEQSTER, REDNET and Visucom will enable all companies to expand and enhance their solutions, services and offerings and develop new strategies to better serve the education sector in Germany. This expanded portfolio includes a customized 360° approach that supports the education sector through professional and managed services, logistics and system configuration, technical services and parent financing.
"As one of the leading providers of complete IT solutions for the education market, GfdB has already been ensuring that digitization succeeds sustainably at schools and educational institutions for years," explains Mathias Harms, Managing Director of the Society for Digital Education (GfdB). "Through the new strategic partnership with Converge, we will be able to significantly expand our range of services in the future and offer our customers an even better 360° approach. And with the new alliance of Gesellschaft für digitale Bildung, Institut für moderne Bildung, DEQSTER, REDNET and Visucom, we are additionally strengthening our competencies in the field of IT equipment, services and support for companies in the education industry."
"I am pleased that with our new partner Converge we can expand our portfolio and offer holistic solutions," said Cuma Saado, CEO of DEQSTER. "By bundling DEQSTER's competencies with other companies and increasing cooperation, our sales partners will benefit as we offer them an even better and much more comprehensive service. As a producer of equipment for digital learning and working, we will fulfill customer wishes in an even more targeted manner in the future. In addition, we will jointly develop 360° solutions that are tailored precisely to educational institutions."
"Together with GfdB and IfmB, REDNET will be able to offer German educational institutions an even more comprehensive, holistic service portfolio in the future as a leading provider with the 360° approach and thus support them in ensuring that digital schooling succeeds," says Barbara Weitzel, Managing Director of REDNET. "With DEQSTER, we have another accessory specialist for the edu-market on board, which will expand our joint portfolio after the acquisition of Visucom."
"The addition of GfdB, IfmB and DEQSTER to Converge's German portfolio of companies will be a major step forward, allowing us to best serve the German market," said Shaun Maine, CEO of Converge. "Building on the successes of REDNET and Visucom, GfdB, DEQSTER and IfmB will also make us the leading education partner in Germany and help us further expand the range of solutions and services we offer to our customers in Europe."
GfdB, IfmB and DEQSTER are the 32nd acquisition announced by Converge or its subsidiaries since October 2017. Converge's family of companies also includes Corus Group, LLC; Northern Micro, Inc; 10084182 Canada Inc. under the Becker-Carroll name; Key Information Systems, Inc; BlueChip Tek, Inc; Lighthouse Computer Systems, Inc; Software Information Systems LLC; Nordisk Systems, Inc; Essex Technology Group, Inc; Datatrend Technologies, Inc; VSS, LLC; Solutions PCD, Inc; Unique Digital, Inc; Workgroup Connections, Inc.; Vivvo Application Studios LTD; Vicom Computer Services, Inc; CarpeDatum LLC; Accudata Systems, Inc; Dasher Technologies, Inc; ExactlyIT, Inc; REDNET GmbH; Vicom Infinity, Inc; Infinity Systems Software, Inc; LPA Software Solutions, LLC; OPIN Digital, Inc; Paragon Development Systems, Inc; Visucom GmbH; 1CRM Systems Corp; Creative Breakthroughs, Inc; and PC Specialists, Inc. d/b/a Technology Integration Group.
About GfdB
The Society for Digital Education (GfdB) supports schools and educational institutions throughout Germany on their way to a digital future. In doing so, it sees itself as a process facilitator that identifies individual digital solutions. As a provider of complete digital solutions, GfdB offers everything from a single source - from the right hardware and software to training courses and comprehensive technical and consulting services. Together with more than 20 partners from the digital sector, it creates new ways of digitalization - for contemporary digital teaching that inspires teachers and motivates students. For more information about the Society for Digital Education, visit www.gfdb.de.
About IfmB
The Institute for Modern Education GmbH (IfmB) was founded in Tutzing in 2020 and is a partner for educational institutions such as schools and universities on the path to digitalization. IfmB's activities include the development of ideas as well as the implementation of digital concepts for the education sector. As a provider of complete IT solutions, the IfmB takes care of both hardware and software equipment as well as comprehensive services and services related to digitalization for schools and educational institutions. IfmB offers its customers a 360° approach and develops customized and contemporary digital solutions for customers that are sustainable and innovative. For more information on IfmB, please visit www.ifmb.de.
About DEQSTER
The Hamburg-based company, founded in 2021, develops and produces equipment for digital learning and working. The portfolio includes tablet cases, protective sleeves, a digital Pencil as well as charging cables, chargers and adapters. All DEQSTER products have been specially developed for use in schools and educational institutions. The high-quality equipment is ideally suited to the requirements that students and teachers have for digital accessories. DEQSTER sees itself as an accessories specialist that optimally supports the holistic approach of digital education with its products. The product solutions are distributed nationwide through a broad network of retail partners. For more information about DEQSTER, please visit www.deqster.de.
About Converge
Converge Technology Solutions Corp. is a software-based IT and cloud solutions provider focused on delivering industry-leading solutions and services. Converge's global solutions approach provides advanced analytics, application modernization, cloud, cybersecurity, digital infrastructure, and digital workplace solutions to customers across multiple industries. The company supports its customers in these solutions with consulting, implementation and managed services expertise across all major IT vendors in the market. This multifaceted approach enables Converge to meet the unique business and technology needs of all its public and private sector customers. For more information, visit convergetp.com.
For more information, please contact:
Converge Technology Solutions Corp.
E-mail:
investors@convergetp.com
Phone: 416-360-1495
