Converge Technology Solutions Acquires Essex Technology Group, Inc.

News provided by

Oct 09, 2019, 08:00 ET

Converge Technology Solutions has acquired Essextec, a leading cloud, cognitive and cybersecurity solution provider in the Northeast US.

TORONTO, Oct. 9, 2019 /PRNewswire/ - Converge Technology Solutions Corp. ("Converge" or "Company") (TSXV:CTS) (FSE:0ZB) (OTCQX:CTSDF) announced today that it has acquired Essex Technology Group, Inc. ("Essextec"), a Wall Street-based cloud, cognitive, and cybersecurity solution provider in the Northeast US.

Converge has and will continue to leverage Essextec's artificial intelligence, cybersecurity and data analytics offerings for use by Converge's existing customer base and bring Software Enabled Hybrid IT solutions across a range of vendors to Essextec's customer base, thereby continuing to add value to both firms. Essextec brings its customers intellectually curious and highly skilled teams made up of experienced technology and cybersecurity experts, business consultants, and industry thought leaders. Converge is a leading Software Enabled Hybrid IT solutions provider representing the intersection of innovation accelerators and foundational infrastructure solutions.

"The team at Essextec aligns to our current solution areas and helps organizations solve IT challenges by applying innovative cloud, cognitive, and cybersecurity technologies," said Greg Berard, President of Converge. "The skills and capabilities that Essextec brings to our client base across North America will help us continue to differentiate ourselves and drive significant value as we position the right strategic solutions with our key technology partners and clients."

A significant participant in the IBM partner ecosystem, Essextec stays on the cutting edge, guiding customers through digital transformations with a focus on building secure cognitive applications in hybrid cloud environments. Whether working on-premise or in a public, private, or hybrid cloud environment, Essextec brings the skills and expertise to properly architect secure, effective solutions. Utilizing modern machine learning and artificial intelligence capabilities, the Essextec team leads customers in applying natural language processing, conversational user interfaces, voice interaction, image recognition, and text analytics to real business problems.

"We are excited for the Converge family of companies to have continued access to Essextec's capabilities for our customers and to make Converge's Hybrid IT services accessible to the Essextec customer base," said Shaun Maine, CEO of Converge. "Essextec has proven its ability to deliver Artificial Intelligence, CyberSecurity and Cloud solutions to forward-thinking organizations, and we look forward to continuing to add these to the Converge Hybrid IT capabilities and offerings. Converge has been working together with the Essextec team since Q4 of last year, and we are delighted to now bring Essextec into the Converge family."

Converge's portfolio of companies also includes Corus Group, LLC; Northern Micro, Inc.; Becker-Carroll, Inc; Key Information Systems, Inc.; BlueChipTek, Inc.; Lighthouse Computer Services, Inc.; Software Information Systems, LLC; Nordisk Systems, Inc.; and Datatrend Technologies, Inc.

About Converge Technology Solutions Corp.

Converge Technology Solutions Corp. combines innovation accelerators and foundational infrastructure solutions to deliver best-of-breed solutions and services to customers. The Company is building a platform of regionally-focused Hybrid IT solutions providers to enhance the ability to provide multi-cloud solutions, cybersecurity, artificial intelligence ("AI"), identity management/enterprise blockchain, resiliency, and managed services, enabling Converge to address the business and IT issues that public and private-sector organizations face today. For more information, visit http://www.convergetp.com.

About Essextec

Essextec is a Wall Street-based cloud, cognitive, and cybersecurity solutions provider. Essextec brings its customers a team of intellectually curious and highly skilled individuals made up of experienced technology and cybersecurity experts, business consultants, and industry thought leaders. For more information, visit http://www.essextec.com.

Forward-Looking Information

This press release contains certain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation regarding Converge and its business. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected" "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts". "estimates", "believes" or intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could, "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Except as required by law, Converge assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Converge Technology Solutions Corp.