Converge Technology Solutions is determined to become one of the fastest-growing solution providers in Europe intending to buy USD 1 billion in revenue per year through mergers and acquisitions.
FREMONT CA: Converge Technology Solutions is solely focused on acquiring one of the fastest-growing solution providers in Europe, which is poised to generate USD 1 billion in annual sales through acquisitions. Converge Technology Solutions, a USD 1.5 billion Quebec-based solution provider, continued its M&A spree with the accession of Canada-based 1CRM Systems, marking the company's 28th acquisition. It also plans to acquire several solution providers in Europe by 2022 and over the next three years, they plan to gain USD 1 billion of revenue in the channel: 400 million euros per year. In addition,it seeks to target North American solution providers, with a focus on the firms with strong mid market customer bases.
Over the last 18 months, Converge Technology Solutions was able to raise USD 640 million in the public markets due to its success in executing M&A and driving sales growth within the acquired company. Converge Technology Solutions gives the midmarket solution providers the ability to scale, cross-sell, provide better customer engagement, and expand the cloud and digital transformation capabilities as per the customers request.
Converge Technology Solutions has acquired Visucom GmbH, a German company that provides screens, interactive blackboards, displays, and media control products and services. It obtained Delaware-based PDS Holding Company, which included managed services and digital workplace platform solution provider Paragon Development Systems. Converge Technology Solutions subsidiary Portage CyberTech purchased 1CRM with plans to leverage SaaS-based software suite, which has been deployed in thousands of customer sites across North America, Europe, and Australia.
1CRM specializes in cloud software solutions that provide integrated business information to small and medium-sized businesses while improving their cost model and streamlining internal business processes. The company's software is cloud-based and on-premises, and it can handle daily task management, marketing automation, sales and opportunities, order management, client service, and project management all through a single system.
1CRM Enterprise Edition, the company's flagship product, is a cloud-based service that combines best-of-breed CRM with business management features for accounting, project tracking, and service management.