Channel M&A Titan Converge Technology Makes 27th Acquisition
Solution provider rising star Converge Technology Solutions makes yet another acquisition to expand its global market reach with the purchase of Visucom GmbH.
While many solution providers strive to grow organically, Converge Technology Solutions is laser-focused on growing its sales and market footprint via acquisitions.
The fast-growing Toronto-based solution provider Wednesday acquired its 27th company since 2017 with the purchase of Germany-based Visucom GmbH. The acquisition continues the steady expansion of Converge Technology Solutions’ market footprint outside North America, according to CEO Shaun Maine (pictured).
“Converge is excited to be kicking off 2022 with another opportunity to continue our global expansion and better serve our clients in Europe,” said Maine in a statement. “In addition to Rednet AG, Visucom will strengthen our presence in Germany and allow us to grow the Converge name outside North America.”
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In August, Converge Technology Solutions acquired Germany-based Rednet AG. Visucom marks the solution providers’ ninth acquisition since 2021.
The financial terms of the Visucom deal were not disclosed.
Converge Technology Solutions was founded in late 2017 with the goal of bringing together dozens of smaller solution providers into a single organization. The company now ranks No. 39 on CRN’s 2021 Solution Provider 500 list, compared with being ranked No. 50 in 2020.
The company last month acquired PDS Holding Company, which specializes in managed services, digital workplace platforms and enterprise solutions.
In 2021, Converge Technology Solutions acquired mobility and application specialist OPIN Digital Inc.; Dasher Technologies, one of Hewlett Packard Enterprise’s largest channel partners in North America; consulting and systems integrator specialist Accudata Systems; data analytics firm LPA Software Solutions; international managed IT services provider ExactlyIT; analytics consulting firm CarpeDatum; and multi-cloud infrastructure and services provider Vicom Computer Services.
Converge Technology Solutions’ stock is trading up 1 percent Wednesday at $8.50 per share. The company provides a wide variety of regional sales and services around advanced analytics, cloud, security and digital transformation.
Visucom provides professional screens, interactive blackboards, loudspeakers, cameras, projectors, displays and media controls targeting the education and public sector markets. The 35-year-old company also offers on-site installations, training and consulting.
Visucom and Converge Technology Solutions have been partnering for the past few years. The companies will look to jointly boost their audiovisual offerings.
Converge Technology Solutions President Greg Berard said the company is building one of the biggest solution providers in North America with a focus on cross-selling.
“Our goal has been to really build a very strong North American solution provider by making acquisitions and bringing these teams together to ultimately drive more value with their client base,” said Berard in an interview with CRN last year. “And our whole strategy has been built on the premise that we’re going to acquire companies with real deep client relationships, real strong vendor partnerships, and unique skills and capabilities that we can all leverage together as one organization.”