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Converge Technology Solutions Corp T.CTS

Alternate Symbol(s):  CTSDF

Converge Technology Solutions Corp. is a services-led, software-enabled, information technology (IT) and cloud solutions provider. Its global approach delivers advanced analytics, artificial intelligence (AI), application modernization, cloud platforms, cybersecurity, digital infrastructure, and digital workplace offerings to clients across various industries. It supports these solutions with advisory, implementation, and managed services across all IT vendors in the marketplace. Its segments include Converge Hybrid IT Solutions (Converge), and Portage Software-as-a-Solution (SaaS) Solutions. Converge is focused on delivering advanced analytics, application modernization, cloud, cybersecurity, digital infrastructure, digital workplace, and managed services offerings and provision of hardware and software products and solutions to clients across various industries and organizations. SaaS is focused on digital transactions between individuals, businesses, and government organizations.


TSX:CTS - Post by User

Post by jimitwiston May 20, 2022 9:12am
120 Views
Post# 34697840

Free cash?

Free cash?Is CTS throwing off enough free cash for growth. Has CTS reached a point where share issues are no longer necessary for smaller acquisitions. The last issue closed in September. They raised just shy of $260 million. In the last quarterly report they stated there was $216 million on the books. In that quarter, there were 5 aquisitions They just did another deal which should leave $170 million. Revenue  has grown from $410 million (Q4) to $550 million (Q1) to $675+ (Q2) while dropping cash on hand by $90 million ( not counting restricted cash) to$170 million. 
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