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5 Things You Need To Know About The $1.8 Billion ConvergeOne Acquisition

ConvergeOne is being sold for a little more than the revenue its CEO, John A. McKenna Jr., told investors he expected the solution provider to generate in its first year as a publicly traded company.

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Hard Hit By Avaya Bankruptcy

In U.S. Securities and Exchange Commission filings, ConvergeOne said Avaya and Cisco Systems are its two largest vendors, representing 21 percent and 39 percent of its business, respectively. When Avaya filed for bankruptcy in April 2017, many of ConvergeOne’s customers started looking elsewhere for products.

“New or existing clients have, in some cases, elected to delay purchasing decisions with respect to Avaya technology offerings or have chosen to replace existing Avaya technology offerings with the technology offerings of other vendors,” the company wrote. “Delays in customer purchasing decisions, or an election by our clients to purchase alternative technology offerings from us or from other providers, has resulted in decreased technology offerings revenue in 2017.”

 
 
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