TORONTO and GATINEAU, QC, April 16, 2025 /CNW/ - Converge Technology Solutions Corp. ("Converge" or the "Company") (TSX: CTS) (FSE: 0ZB) (OTCQX: CTSDF) announced today that the Ontario Superior Court of Justice (Commercial List) has issued a final order approving the previously announced plan of arrangement (the "Arrangement") involving the Company and 16728421 Canada Inc. (the "Purchaser"), an affiliate of H.I.G. Capital ("H.I.G.") pursuant to which the Purchaser will acquire all of the issued and outstanding common shares in the capital of Converge (the "Shares"), other than certain Shares held by certain shareholders who entered into rollover equity agreements.
Subject to the satisfaction or waiver, where permitted, of the remaining conditions to closing contained in the arrangement agreement entered into between the Company and the Purchaser dated February 6, 2025, as amended by the amending agreement dated April 1, 2025 (collectively, the "Arrangement Agreement"), it is anticipated that the Arrangement will be completed by the parties on or about April 22, 2025.
The Company also announced that all regulatory approvals necessary for completion of the Arrangement have now been obtained.
Questions for Depositary
Shareholders who have questions or require assistance submitting their Shares in connection with the Arrangement may direct their questions to Computershare Investor Services Inc., which is acting as depositary in connection with the Arrangement, at 1-800-564-6253 (toll-free within North America) or 1-514-982-7555 (outside of North America) or by email at corporateactions@computershare.com.
About Converge
Converge Technology Solutions Corp. is reimagining the way businesses think about IT—a vision driven by people, for people. Since 2017, we've focused on delivering outcomes-driven solutions that tackle human- centered challenges. As a services-led, software-enabled, IT & Cloud Solutions provider, we combine deep expertise, local connections, and global resources to deliver industry-leading solutions.
Through advanced analytics, artificial intelligence (AI), cloud platforms, cybersecurity, digital infrastructure, and workplace transformation, we empower businesses across industries to innovate, streamline operations, and achieve meaningful results. Our AIM (Advise, Implement, Manage) methodology ensures solutions are tailored to our customers' specific needs, aligning with existing systems to drive success without complexity.
Discover IT reimagined with Converge—where innovation meets people. Learn more at convergetp.com.
Forward-Looking Information
This press release contains certain "forward-looking information" and "forward-looking statements" (collectively, "forward-lookingstatements") 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.
Specifically, statements regarding the completion of the Arrangement and other statements that are not statements of historical facts are considered forward-looking information. The anticipated dates indicated may change for a number of reasons, including the necessity to extend the time limits for satisfying the other conditions for the completion of the Arrangement. The forward-looking information are based on management's opinions, estimates and assumptions. While these opinions, estimates and assumptions are considered by the Company to be appropriate and reasonable in the circumstances as of the date of this press release, they are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, levels of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking information.
The forward-looking information are subject to significant risks including, without limitation: risks relating to the completion of the Arrangement and general economic conditions.
If any of these risks or uncertainties materialize, or if the opinions, estimates or assumptions underlying the forward-looking information prove incorrect, actual results or future events might vary materially from those anticipated in the forward-looking information. Although the Company has attempted to identify important risk factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other risk factors not presently known to the Company or that the Company presently believes are not material that could also cause actual results or future events to differ materially from those expressed in such forward-looking information.
There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, you should not place undue reliance on forward-looking information, which speaks only as of the date made. The forward- looking information contained in this press release represents the Company's expectations as of the date specified herein, and are subject to change after such date. However, the Company disclaims any intention or obligation or undertaking to update or revise any forward-looking information or to publicly announce the results of any revisions to any of those statements, whether as a result of new information, future events or otherwise, except as required under applicable securities laws.
All of the forward-looking information contained in this press release is expressly qualified by the foregoing cautionary statements.
