“We’re over a $3 billion run rate now, and with the new acquisitions, we will be pushing up closer to $4 billion,” Converge Technology Solutions’ CEO Shaun Maine tells CRN. May 25, 2022, 02:32 PM EDT
Converge Technology Solutions’ goal of growing $1 billion in revenue this year via acquisitions is going exactly as planned as midmarket customer demand for hybrid cloud solutions is soaring. “We’re over a $3 billion run rate now, and with the new acquisitions, we will be pushing up closer to $4 billion,” said Shaun Maine , CEO of fast-growing Converge Technology Solutions . “Really it’s midmarket education, healthcare, finance, and technology—they all need help getting to the cloud. … The midmarket demand is so high. Quarter one [2022] demand was higher than quarter four [2021]. I’ve never seen that in my career.”
The Canada-based company has acquired a whopping 31 channel partners over the past five years, with a focus on North American and European partners who focus on the midmarket. The goal in 2022 was to increase revenue by $1 billion via acquisitions, a benchmark that Maine said is already nearly achieved at $840 million thus far. Last week, Converge Technology Solutions (CTS) unveiled its plans to acquire Technology Integration Group (TIG) who has built a solid education, government and enterprise end-to-end solutions with over 20 offices across North America. TIG was founded 40 years ago as PC Specialists by channel icon Bruce Geier who ran the company until his death at the age of 68 in 2021. “When you look at TIG with the strength of those 40-year relationships, Bruce built an incredible company with great customer relationships, and that’s what we’re looking for: customer intimacy, [because] this is a people business,” said Maine, whose company made CRN’s 2022 Elite 150 list. “That’s the way VARs have always been. And when you can take that and then introduce new capabilities and services that Converge has, but have the [channel partner] really acting on behalf of their customer—that’s what customers want.”
Converge Technology Solutions Buys Interdynamix Systems; Creative Breakthoughs
With such a thirst for growth via acquisition, CTS also acquired fellow Canada-based Interdynamix Systems earlier this month. Interdynamix was founded in 1995 with the goal of filling a gap in the technology industry for elite engineering resources. The company is known as a leader in solving business problems with innovative solutions and services, ranging from cloud computing and infrastructure to open-source consulting. In April, CTS acquired Michigan-based cybersecurity standout Creative Breakthroughs Inc., a comprised of former CISOs, strategists and security experts. CBI’s main focus areas of threat-detection and obstruction help defend and secure networks and endpoints, testing and monitoring areas of operational risk, and protecting data. All three recent acquisitions play a strategic part in CTS’ bullish M&A strategy. CTS’ Two-Fold Acquisition Strategy
Maine said his acquisition strategy is two-fold: either buy a channel partner that has a longstanding and strong midmarket customer relationships, or acquire a channel partner that owns the IT expertise and skills capabilities that are hard to come by. For example, Converge gained around 65 top-notch, veteran security architects via its acquisition of Creative Breakthroughs. Finding and hiring 65 security all-stars internally would be a tough tasks in today’s competitive technology landscape. Converge Technology Solutions acquisition of TIG was an example of the company buying a channel partner for its strong midmarket customer base. After acquiring a company, CTS then uses its massive amount of technical, sales and services resources to drive growth within the newly acquired company who might not be getting enough resources from their IT vendors. “I realized it was a better strategy to buy these smaller [channel partners] in all the NFL cities, because they’re competing on technology and service levels, but they’ve been swimming against the current, because the vendors are backing somebody else,” said Maine. “If you can have that local service level, but then have this big company like Converge with all these capabilities and the backing of the vendors—then they’re swimming with the current. This is where the strategy has been so successful, especially during the COVID pandemic. That local service level really showed itself.”
Europe M&A Next For Converge
Over the next few weeks and months, Converge Technology Solutions is set on buying channel partners based in Europe. CTS told CRN in February that it planned to acquire between eight and 12 channel partners in North America and Europe in 2022 in order to increase annual revenue by $1 billion this year compared to 2021. With the company already acquiring many partners in North America over the past few months, its now laser-focused on buying solution providers in Europe. “We’re working on them right now. The European ones take longer to close, especially as a Canadian company being over in Europe. There’s just approvals of things that you need,” said Maine. “We want to extend further in Germany, also go to the UK and Northern Europe. So you’ll see several acquisitions at the end of quarter two.”
In 2022 alone, Converge acquired Creative Breakthroughs; TIG; Wisconsin-based Paragon Development Systems ; Germany-based Visucom GmbH ; Alberta, Canada-based Interdynamix ; and Victoria, British Columbia-based 1CRM . “Thirty-one acquisitions in five years is a lot,” said Maine. “But we’re excited to keep the momentum going through the rest of the year.”
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How Converge Technology Solutions Is Growing Sales By $1 Billion This Year

05/02/2022 | 08:31am EDT
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TORONTO and GATINEAU, Québec, May  02, 2022  (GLOBE NEWSWIRE) -- Converge Technology Solutions Corp. (“Converge” or “the Company”) (TSX:CTS) (FSE:0ZB) (OTCQX:CTSDF) a software-enabled IT & Cloud Solutions provider, is pleased to announce the closing of its previously signed acquisition of IDX Systems Corp. (“Interdynamix”). Converge announced the signing of the acquisition of Interdynamix on March 28, 2022. Interdynamix was founded in 1995 with the goal of filling a substantial gap in the technology industry for elite engineering resources. The organization is known in the IT industry as a world leader in solving business problems with innovative solutions and services, ranging from cloud computing and infrastructure to open-source consulting. Home to IDX Labs, Interdynamix also offers functional, technical, and performance testing to validate architecture systems and ensure seamless migrations. Interdynamix joins the portfolio of companies announced by Converge or its affiliates since October 2017. Converge’s family of companies also includes Corus Group, LLC; Northern Micro, Inc.; 10084182 Canada Inc. operating as Becker-Carroll; Key Information Systems, Inc.; BlueChip Tek, Inc.; Lighthouse Computer Systems, Inc.; Software Information Systems LLC. ; Nordisk Systems, Inc.; Essex Technology Group, Inc.; Datatrend Technologies, Inc.; VSS, LLC; Solutions PCD, Inc.; Unique Digital, Inc.; Workgroup Connections, Inc.; Vivvo Application Studios LTD.; Vicom Computer Services, Inc.; CarpeDatum LLC; Accudata Systems, Inc.; Dasher Technologies, Inc.; ExactlyIT, Inc.; REDNET AG; Vicom Infinity, Inc.; Infinity Systems Software, Inc.; LPA Software Solutions, LLC; OPIN Digital, Inc; Paragon Development Systems, Inc.; Visucom GmbH; 1CRM Systems Corp.; and Creative Breakthroughs, Inc.
About Interdynamix
Interdynamix is equal parts solution engineering and business consulting. To solve our clients’ problems, Interdynamix combines a deep understanding of our clients’ business and technology ecosystems with an elite team of engineers who area relentlessly focused on achieving our clients’ business and economic objectives. Founded in 1995 in Edmonton, Alberta, Canada to fill a substantial gap for elite engineering resources, Interdynamix is now comprised of over 50 leaders, architects, engineers, sales, and support professionals and is known in the IT industry as a world leader for solving business problems with innovative technology solutions. About Converge
Converge Technology Solutions Corp. is a software-enabled IT & Cloud Solutions provider focused on delivering industry-leading solutions and services. Converge’s global solution approach delivers advanced analytics, application modernization, cloud, cybersecurity, digital infrastructure, and digital workplace offerings to clients across various industries. The Company supports these solutions with advisory, implementation, and managed services expertise across all major IT vendors in the marketplace. This multi-faceted approach enables Converge to address the unique business and technology requirements for all clients in the public and private sectors. For more information, visit convergetp.com. For further information contact:

Converge Technology Solutions Corp. Completes Acquisition of Interdynamix Systems

Toronto, Ontario, CANADA
TORONTO and GATINEAU, Québec, May  02, 2022  (GLOBE NEWSWIRE) -- Converge Technology Solutions Corp. (“Converge” or “the Company”) (TSX:CTS) (FSE:0ZB) (OTCQX:CTSDF) a software-enabled IT & Cloud Solutions provider, is pleased to announce the closing of its previously signed acquisition of IDX Systems Corp. (“Interdynamix”). Converge announced the signing of the acquisition of Interdynamix on March 28, 2022. Interdynamix was founded in 1995 with the goal of filling a substantial gap in the technology industry for elite engineering resources. The organization is known in the IT industry as a world leader in solving business problems with innovative solutions and services, ranging from cloud computing and infrastructure to open-source consulting. Home to IDX Labs, Interdynamix also offers functional, technical, and performance testing to validate architecture systems and ensure seamless migrations. Interdynamix joins the portfolio of companies announced by Converge or its affiliates since October 2017. Converge’s family of companies also includes Corus Group, LLC; Northern Micro, Inc.; 10084182 Canada Inc. operating as Becker-Carroll; Key Information Systems, Inc.; BlueChip Tek, Inc.; Lighthouse Computer Systems, Inc.; Software Information Systems LLC. ; Nordisk Systems, Inc.; Essex Technology Group, Inc.; Datatrend Technologies, Inc.; VSS, LLC; Solutions PCD, Inc.; Unique Digital, Inc.; Workgroup Connections, Inc.; Vivvo Application Studios LTD.; Vicom Computer Services, Inc.; CarpeDatum LLC; Accudata Systems, Inc.; Dasher Technologies, Inc.; ExactlyIT, Inc.; REDNET AG; Vicom Infinity, Inc.; Infinity Systems Software, Inc.; LPA Software Solutions, LLC; OPIN Digital, Inc; Paragon Development Systems, Inc.; Visucom GmbH; 1CRM Systems Corp.; and Creative Breakthroughs, Inc.
About Interdynamix
Interdynamix is equal parts solution engineering and business consulting. To solve our clients’ problems, Interdynamix combines a deep understanding of our clients’ business and technology ecosystems with an elite team of engineers who area relentlessly focused on achieving our clients’ business and economic objectives. Founded in 1995 in Edmonton, Alberta, Canada to fill a substantial gap for elite engineering resources, Interdynamix is now comprised of over 50 leaders, architects, engineers, sales, and support professionals and is known in the IT industry as a world leader for solving business problems with innovative technology solutions. About Converge
Converge Technology Solutions Corp. is a software-enabled IT & Cloud Solutions provider focused on delivering industry-leading solutions and services. Converge’s global solution approach delivers advanced analytics, application modernization, cloud, cybersecurity, digital infrastructure, and digital workplace offerings to clients across various industries. The Company supports these solutions with advisory, implementation, and managed services expertise across all major IT vendors in the marketplace. This multi-faceted approach enables Converge to address the unique business and technology requirements for all clients in the public and private sectors. For more information, visit convergetp.com. For further information contact:

Converge Technology Solutions Corp. Completes Acquisition of Interdynamix Systems
TORONTO and GATINEAU, Québec, May 02, 2022 (GLOBE NEWSWIRE) — Converge Technology Solutions Corp. (“Converge” or “the Company”) (TSX:CTS) (FSE:0ZB) (OTCQX:CTSDF) a software-enabled IT & Cloud Solutions provider, is pleased to announce the closing of its previously signed acquisition of IDX Systems Corp. (“Interdynamix”). Converge announced the signing of the acquisition of Interdynamix on March 28, 2022. Interdynamix was founded in 1995 with the goal of filling a substantial gap in the technology industry for elite engineering resources. The organization is known in the IT industry as a world leader in solving business problems with innovative solutions and services, ranging from cloud computing and infrastructure to open-source consulting. Home to IDX Labs, Interdynamix also offers functional, technical, and performance testing to validate architecture systems and ensure seamless migrations. Interdynamix joins the portfolio of companies announced by Converge or its affiliates since October 2017. Converge’s family of companies also includes Corus Group, LLC; Northern Micro, Inc.; 10084182 Canada Inc. operating as Becker-Carroll; Key Information Systems, Inc.; BlueChip Tek, Inc.; Lighthouse Computer Systems, Inc.; Software Information Systems LLC. ; Nordisk Systems, Inc.; Essex Technology Group, Inc.; Datatrend Technologies, Inc.; VSS, LLC; Solutions PCD, Inc.; Unique Digital, Inc.; Workgroup Connections, Inc.; Vivvo Application Studios LTD.; Vicom Computer Services, Inc.; CarpeDatum LLC; Accudata Systems, Inc.; Dasher Technologies, Inc.; ExactlyIT, Inc.; REDNET AG; Vicom Infinity, Inc.; Infinity Systems Software, Inc.; LPA Software Solutions, LLC; OPIN Digital, Inc; Paragon Development Systems, Inc.; Visucom GmbH; 1CRM Systems Corp.; and Creative Breakthroughs, Inc.
About Interdynamix
Interdynamix is equal parts solution engineering and business consulting. To solve our clients’ problems, Interdynamix combines a deep understanding of our clients’ business and technology ecosystems with an elite team of engineers who area relentlessly focused on achieving our clients’ business and economic objectives. Founded in 1995 in Edmonton, Alberta, Canada to fill a substantial gap for elite engineering resources, Interdynamix is now comprised of over 50 leaders, architects, engineers, sales, and support professionals and is known in the IT industry as a world leader for solving business problems with innovative technology solutions. About Converge
Converge Technology Solutions Corp. is a software-enabled IT & Cloud Solutions provider focused on delivering industry-leading solutions and services. Converge’s global solution approach delivers advanced analytics, application modernization, cloud, cybersecurity, digital infrastructure, and digital workplace offerings to clients across various industries. The Company supports these solutions with advisory, implementation, and managed services expertise across all major IT vendors in the marketplace. This multi-faceted approach enables Converge to address the unique business and technology requirements for all clients in the public and private sectors. For more information, visit convergetp.com. For further information contact:

For the week ending April 1 CRN takes a look at the companies that brought their ‘A’ game to the channel. The Week Ending April 1
Topping this week’s Came to Win list is HP Inc. for its bold move to secure its position as a work-from-home product superstar with its deal to acquire videoconferencing equipment maker Poly. Also making this week’s list is Intel for its own savvy move to acquire Granulate and its software optimization technology while solution provider superstar Converge Technology scored its 29th acquisition. Ingram Micro makes the list for launching a digital transformation organization with the goal of improving how vendors and partners engage with the distributor, as does software development tech provider Docker for an impressive funding round. Videoconferencing Blockbuster: HP To Acquire Poly For $3.3B
In a move to offer an expanded portfolio of products for the work-from-home movement, HP Inc. this week struck a $3.3 billion deal to acquire Poly , a $1.7 billion global provider of videoconferencing hardware, conference phones and audio headsets. HP is a leading marketer of laptop and desktop computers, printers and related products—all of which have been in high demand since the beginning of the COVID-19 pandemic that forced millions of employees to work from home over the past two years. By acquiring Poly, HP will bolster its product lineup to better meet customers’ work-from-home and hybrid office needs. “The rise of the hybrid office creates a once-in-a-generation opportunity to redefine the way work gets done,” HP President and CEO Enrique Lores said in announcing the acquisition deal. The deal follows HP’s $425 million acquisition of HyperX, which specializes in gaming headsets, in 2021. HP is also working with Zoom and Microsoft to improve the videoconferencing cloud experience. Intel Buying AI Startup To Cut Cloud Costs, Boost CPU Compute Abilities
Sticking with the topic of strategic acquisitions, Intel this week confirmed a deal to buy Granulate Cloud Solutions , an AI software optimization startup, for a reported $650 million. The giant chip maker intends to leverage Granulate’s technology to help customers maximize compute workload performance and reduce cloud and infrastructure costs. Intel plans to “rapidly scale” Granulate’s optimization software, including across its data center portfolio. Granulate applies AI to high-priority computing workloads to optimize how they travel across cloud and on-premises networks. The Granulate autonomous optimization service reduces CPU utilization and application latencies by learning about an application and deploying a customized set of continuous optimizations at runtime. Ingram Micro Unveils Digital Transformation Initiative, Hires Amazon And Facebook Talent
Ingram Micro launched a Global Digital Solutions organization this week to oversee the distributor’s digital transformation initiatives—all with the goal of helping solution providers and vendors take better advantage of new and improved Ingram Micro systems and platforms and improve partners’ engagement experience. One example is the distributor’s Flexible Subscription Engine, which has some vendors considering converting their own product SKUs and solutions to a flexible subscription mode and integrating them with the distributor’s APIs and data. As part of the Global Digital Solutions initiative, Ingram Micro is expanding the organization’s management team with some top-tier hires including former AWS executive Ajay Agarwal as chief product and platform officer and former Facebook/Meta executive Mukund Gopalan as chief data officer. Channel M&A Star Converge Technology Buys Interdynamix
Solution Provider Converge Technology Solutions continued its torrid pace of acquisitions this week when the Gatineau, Quebec-based solution provider said it had acquired Interdynamix , a solution engineering and business consulting specialist based in Edmonton, Alberta. The acquisition is CTS’ fourththis year and its 29th overall since 2017. CEO Shaun Maine has told CRN he expects to make between eight and 12 acquisitions this year and antipates that CTS will acquire approximately $1 billion in revenue per year over the next three years by buying solution providers focused on midmarket customers. Interdynamix is comprised of architects, engineers, sales and support professionals and specializes in solving business problems with innovative solutions and services, ranging from cloud computing and infrastructure to open-source consulting. Maine said the Interdynamix acquisition will give CTS more coverage across western Canada and Toronto, as well as bolster the solution provider’s expertise across hybrid cloud, open-source technologies and telecommunications. Docker Closes $105 Million Financing Round
Software container technology developer Docker scored big in the financing arena this week, raising $105 million in a Series C funding round. The round was led by new investor Bain Capital Ventures and included a number of other new and existing investors. The new funding will help Docker “accelerate [its] vision of enabling developers to spend more time on innovation, less time on everything else,” said CEO Scott Johnston in a blog post . Johnston called the funding round “a humbling milestone” since Docker’s November 2019 restructuring where the company sold off its enterprise business in a bid to focus on its active developer business.

5 Companies That Came To Win This Week

TidalScale operates as a provider of software-defined servers. It brings flexibility to data centers by right-sizing servers on the fly to fit any data set or workload. Its solutions deliver in-memory performance at any scale, are self-optimizing, use standard hardware, and are compatible with all applications and operating systems. The company was founded in 2012 and is based in Campbell, California.

TidalScale

TidalScale , the industry leader in software-defined server technology , today announces a reseller agreement with Interdynamix Systems , Inc. , a leading provider of advanced infrastructure solutions in Canada .

15:30 ET
TidalScale Announces International Reseller Agreement with Interdynamix

INVIDI Technologies

Sun Microsystems

Avnet

Acquired

Interdynamix is an authority in converged IT, software-defined IT, network functions virtualization, and cloud computing. 

On March 28th, 2022, Interdynamix was acquired by Converge technology Solutions. The terms of the transaction were not disclosed.

Date	3/28/2022
Round	Acquired
Amount
Investors	Converge Technology Solutions
Valuation	$99M
Revenue	0 FY undefined
Sources	4

First funding	3/28/2022
Last Funding	3/28/2022
Investor	Converge Technology Solutions
Rounds	1 Acquired
Board Seats
Type	Corporation
Location	Canada

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