Canadian IT and cloud solutions provider Converge Technology Solutions has acquired analytics and AI (artificial intelligence) consultancy Newcomp Analytics. Financial terms of the deal were not disclosed.
This is technology M&A deal number 824 that ChannelE2E has covered so far in 2022. See more than 2,000 technology M&A deals involving MSPs, MSSPs & IT service providers listed here.
Converge Technology Solutions, founded in 2017, is based in Toronto, Ontario, Canada. The company has 996 employees listed on LinkedIn. Converge’s areas of expertise include advanced analytics, cloud, and cybersecurity offerings to clients across various industries, as well as managed services, digital infrastructure, and talent expertise offerings across all major IT vendors in the marketplace.
Newcomp Analytics, founded in 1986, is based in Thornhill, Ontario, Canada. The company has 59 employees listed on LinkedIn. Newcomp’s areas of expertise include business intelligence, business analytics, performance management, predictive analytics, information management, machine learning, data science, Alteryx, Tableau, DataRobot, IBM, training and education, Snowflake, data visualization, advanced analytics, data governance, deep learning, data engineering, text analytics, automated workflows and unstructured and structured data.
Converge Acquires Newcomp: Providing More Insight
Michael Langton, president, Newcomp Analytics, commented:
"Newcomp Analytics is very excited to be welcomed into the Converge family, allowing us to bring our modern data analytics expertise to the global marketplace. Converge's broad technology partnerships and strong client base present a significant opportunity for our team to continue our journey as a trusted analytics advisor to clients across all industries.”
Greg Berard, president and North American CEO, Converge, said:
"Converge is excited to expand our advanced analytics portfolio and offerings with the addition of Newcomp Analytics. Newcomp Analytics will greatly enhance Converge's ability to help our clients become even more insight-driven and dive deeper into understanding and analyzing their data. Their technical expertise and years of experience will help us drive more value in Canada with our clients and give us more depth and breadth across our North American analytics organization."
Converge’s M&A Growth
This deal marks the thirty-fourth acquisition by Converge or its affiliates since October 2017. In June 2022, the company bought three education market-focused German companies for approximately US$25.9 million. In May 2022, it bought PC Specialists — which does business as Technology Integration Group (TIG).
Converge also acquired 1CRM, a Saas-based provider of task management, marketing automation, sales and opportunities, order management, client service and project management solutions in Victoria, British Columbia, Canada. Before that, it bought up Interdynamix (IDX), a Canadian business solutions and engineering systems integrator.