"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."
-Shaun Maine, CEO of Converge Technology Solutions
January 10,2022
martinwolf Advised Converge Technology Solutions in Acquisition of Paragon Development Systems
Scottsdale, Arizona (January 10, 2022) – Converge Technology Solutions (TSX:CTS), a software-enabled IT & Cloud Solutions provider, announced it has acquired Paragon Development Systems (PDS), a Wisconsin-based organization focused on fueling digital transformation.
Converge Technology Solutions was advised by martinwolf, a leading M&A advisory firm serving the middle-market IT industry. This marks the firm’s 21st transaction in the past 13 months.
Converge Technology Solutions 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.
Quotes
“We’re pleased to announce the addition of Paragon Development Systems, with its expertise in digital transformation, to Converge’s portfolio of companies. 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.”
- Shaun Maine, CEO of Converge Technology Solutions
“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. 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.”
- Greg Berard, President, North America of Converge Technology Solutions
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.
About martinwolf:
Headquartered in Scottsdale, Arizona with an office in Cleveland, martinwolf is a leading M&A Advisory focused on middle market companies in the IT Services and Supply Chain, Managed Services, Security and Software sectors. Since 1997, martinwolf has completed nearly 200 transactions in more than 20 countries and sold eight divisions of Fortune 500 companies. In 2021, the firm acquired IT ExchangeNet, a leader in smaller mid-market (sub $25M) transactions.
martinwolf is a member of FINRA and SIPC. For more information, visit www.martinwolf.com.
