The Tallahassee, Fla.-headquartered private equity firm has agreed to acquire Converge Technology Solutions’ common shares, according to a Friday press release. As part of the deal, a HIG Capital-owned technology firm, Mainline Information Systems, will merge with Toronto-based Converge. Shareholders will receive $5.50 for each common share in cash as Converge delists from public markets. (The Logic)
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The Tallahassee, Fla.-headquartered private equity firm has agreed to acquire Converge Technology Solutions’ common shares, according to a Friday press release. As part of the deal, a HIG Capital-owned technology firm, Mainline Information Systems, will merge with Toronto-based Converge. Shareholders will receive $5.50 for each common share in cash as Converge delists from public markets. (The Logic)
Talking point: The combined company will bring a “breadth” of IT services, offering the cloud, data centre, networking and cybersecurity capabilities of both firms, the release said. The proposed deal represents a 56 per cent premium on Converge’s closing price on Feb. 6. Canaccord Genuity is lead financial adviser on the deal, and the deal is expected to close by the second quarter of 2025.
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