03:05:05 EDT Fri 09 May 2025
Enter Symbol
or Name
USA
CA



Converge Technology Solutions Corp
Symbol CTS
Shares Issued 188,607,084
Close 2025-03-25 C$ 5.46
Market Cap C$ 1,029,794,679
Recent Sedar Documents

Converge receives ISS support for acquisition by HIG

2025-03-25 20:25 ET - News Release

An anonymous director reports

INDEPENDENT PROXY ADVISORY FIRMS RECOMMEND CONVERGE TECHNOLOGY SOLUTIONS SHAREHOLDERS VOTE FOR THE PROPOSED ACQUISITION BY AN AFFILIATE OF H.I.G. CAPITAL

Two leading independent proxy advisory firms, including Institutional Shareholder Services Inc. (ISS), have recommended that holders of common shares of Converge vote for the special resolution approving the previously announced statutory plan of arrangement under Section 192 of the Canada Business Corporations Act between Converge and 16728421 Canada Inc. (the purchaser), an affiliate of HIG Capital, pursuant to which all of the issued and outstanding shares will be acquired by the purchaser for cash consideration of $5.50 per share, other than certain shares held by certain shareholders who entered into rollover equity agreements with the purchaser and its affiliates.

The ISS report states that, among other things, "in this circumstance, shareholders are presented with an attractive cash offer that represents a healthy premium to the unaffected price, and the sale process (including valuation) appear credible."

Converge board and special committee recommendations

The board of directors of Converge (with an interested director abstaining) and the special committee of the board unanimously recommend that shareholders vote for the arrangement.

Full details of the proposed arrangement, including voting instructions, are set out in the company's management information circular dated March 10, 2025, and related proxy materials in respect of the upcoming special meeting of shareholders, which are filed under Converge's profile on SEDAR+ as well as on Converge's website.

Vote today

Shareholders are encouraged to read the circular and vote well in advance of the proxy voting deadline of 11 a.m. (Toronto time) on April 8, 2025.

Meeting details

The meeting will be held in a virtual-only meeting format on April 10, 2025, at 11 a.m. (Toronto time) via audio webcast.

Shareholder questions and voting assistance

Shareholders who have questions about voting their shares or require assistance may contact Laurel Hill Advisory Group, Converge's proxy solicitation agent and shareholder communications adviser, as follows:

Toll-free (for shareholders in North America):  1-877-452-7184

International (for shareholders outside Canada and the United States):  1-416-304-0211

By E-mail:  assistance@laurelhill.com

About Converge Technology Solutions Corp.

Converge Technology Solutions is reimagining the way businesses think about IT (information technology) -- a vision driven by people, for people. Since 2017, Converge has focused on delivering outcomes-driven solutions that tackle human-centred challenges. As a services-led, software-enabled IT and cloud solutions provider, Converge combines deep expertise, local connections and global resources to deliver industry-leading solutions.

Through advanced analytics, artificial intelligence (AI), cloud platforms, cybersecurity, digital infrastructure and workplace transformation, Converge empowers businesses across industries to innovate, streamline operations and achieve meaningful results. Converge's AIM (advise, implement, manage) methodology ensures solutions are tailored to its customers' specific needs, aligning with existing systems to drive success without complexity.

We seek Safe Harbor.

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