Paragon Development Systems joins Converge as the Company’s 26th acquisition
TORONTO and GATINEAU, Québec, Jan. 10, 2022 (GLOBE NEWSWIRE) — Converge Technology Solutions Corp. (“Converge” or “the Company”) (TSX:CTS) (FSE:0ZB) (OTCQX:CTSDF) a software-enabled IT & Cloud Solutions provider, is pleased to announce it has acquired PDS Holding Company, a Delaware corporation, and its wholly-owned subsidiaries, including Paragon Development Systems, Inc. (PDS), a Wisconsin-based organization focused on fueling digital transformation. Converge acquired PDS from Mason Wells, a private equity firm based in Milwaukee, Wisconsin.
With incredible expertise supporting Enterprise Solutions, Managed Services, and true Digital Workplace platforms, Paragon Development Systems works synergistically to leverage the strength of its solution architects and engineering teams to design the right solutions to drive successful strategic outcomes. PDS offers solutions ranging from cloud and security to servers and infrastructure to virtualized work environments and remote work. PDS serves clients in three distinct markets (healthcare, public sector, and corporate), advising and assisting with unique information technology needs in upgrading and modernizing core business technology infrastructure on the continuing journey of innovation and digital transformation.
“We’re pleased to announce the addition of Paragon Development Systems, with its expertise in digital transformation, to Converge’s portfolio of companies,” stated Shaun Maine, CEO of Converge. “PDS’s knowledge and proficiency in the healthcare space will enhance Converge’s ability to deliver enterprise solutions and managed services to our clients in this sector across North America. Additionally, PDS’s presence in the central region will give us more scale across Wisconsin, Illinois, and Minnesota to help us continue to meet the requirements of our clients in these areas.”
“Converge is looking forward to working with Paragon Development Systems leadership to continue driving value and delivering an enhanced level of satisfaction that PDS clients have come to rely on over the past few decades,” said Greg Berard, President, North America of Converge. “The synergies between Converge and PDS will allow us to offer increased benefits and an expanded solution portfolio for our mutual clients across North America.”
Paragon Development Systems, Inc. marks the twenty-sixth acquisition completed by Converge or its affiliates since October 2017. Converge’s family of companies also includes Corus Group, LLC; Northern Micro, Inc.; 10084182 Canada Inc. operating as Becker-Carroll; 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 AG; Vicom Infinity, Inc.; Infinity Systems Software, Inc.; LPA Software Solutions, LLC; and OPIN Digital, Inc.
martinwolf, a leading M&A advisory firm serving the middle-market IT industry, acted as an advisor to Converge in this transaction. Converge was advised by the law firm of Holland & Knight, led by Partner Jordan Taylor. Canaccord Genuity Group served as the exclusive financial advisor to Paragon Development Systems Inc. and Mason Wells.
About Paragon Development Systems
PDS is a strategic partner who assists clients in the Healthcare, Corporate, and Public Sectors by engaging in early-stage strategies, leveraging technical expertise to implement a variety of solutions, and providing ongoing support and services. As a trusted advisor with special expertise in digital workspace, enterprise solutions, professional service, and managed services, PDS provides innovative, client-specific, best-in-class solutions to help clients drive their digital transformation.
About Mason Wells
Mason Wells is a leading Midwest-based private equity firm with approximately $1.5 billion in assets under management across its current private equity funds. Since Mason Wells was formed in 1998, its buyout funds have invested in four specific industry sectors: Outsourced Business Services, Consumer Packaged Goods, Engineered Products & Services, and Packaging Materials & Converting. For more information related to Mason Wells, please visit the firm’s website at www.masonwells.com.
About Converge
Converge Technology Solutions Corp. is a software-enabled IT & Cloud Solutions provider focused on delivering industry-leading solutions and services. Converge’s regional sales and services organizations deliver advanced analytics, cloud, and cybersecurity offerings to clients across various industries. The Company supports these solutions with managed services, digital infrastructure, and talent expertise offerings across all major IT vendors in the marketplace. This multi-faceted approach enables Converge to address the unique business and technology requirements for all clients in the public and private sectors. For more information, visit convergetp.com.
