Globe & Mail 08:32 AM EDT, 06/30/2021 (MT Newswires) -- Converge Technology Solutions Corp. (CTS.TO), trading at 52-week highs in Canada, on Wednesday announced agreements to acquire IT enterprise and consulting firms Vicom Infinity Inc. and Infinity Systems Software Inc. for an aggregate consideration consisting of US$15 million in cash.
The acquisition of sister companies Vicom Infinity and Infinity Systems, which offer IBM mainframe solutions, will boost Converge's resources and client offerings, specifically relating to IBM solutions, the company said.
The companies will add to the Vicom group of companies under Converge and join the Canadian group's existing footprint in northeast U.S., which also includes Vicom Computer Services.
Converge said the acquisition is expected to be immediately earnings-accretive and boost its revenue and adjusted EBITDA.
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