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Converge Technology Solutions Acquires Stone Group

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Cloud and IT solutions provider Converge Technology Solutions has acquired UK-based Stone Technologies Group Limited. Financial terms of the deal were not disclosed.

This is technology M&A deal number 841 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 Acquires Stone Technologies Group

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.

Stone Technologies Group Limited, founded in 1991, is based in Stafford, Staffordshire, UK. The company has 279 employees listed on LinkedIn. Stone's areas of expertise include end user computing, hybrid infrastructure, audio visual and facilities management, IT managed services, IT recycling, cloud services, refurbished devices, education technology, public sector technology, private sector technology, IT networking, server solutions and IT storage solutions.

The acquisition expands Converge's reach and bolsters its ability to deliver environmentally friendly, sustainable and circular IT solutions for education institutions, as well as public and private sector organizations in the United Kingdom, the companies said.

Shaun Maine, CEO, Converge Technology Solutions
Shaun Maine, CEO, Converge Technology Solutions

Simon Harbridge, CEO of Stone Technologies commented on the news:

"We are delighted to be joining the Converge family. As a growing organization with a strong team and great platform for significant expansion in the UK and Europe, joining Converge is a benefit for both our clients and Stone employees. Becoming part of Converge will strengthen our ability to deliver an expanded technology portfolio and support the diverse needs of our clients. Additionally, there is a great cultural fit and the team at Converge will be fully aligned with our environmental and sustainability mission."

Shaun Maine, CEO of Converge, added:

"2022 has been a monumental year of growth for Converge in the European market. Along with our recent acquisitions in Germany, we are excited to leverage the knowledge and skills of Stone Group and its teams to continue enhancing our capabilities and offerings to our clients in the United Kingdom and European Union."

Converge’s M&A Growth

This deal marks the thirty-fifth acquisition by Converge or its affiliates since October 2017. Earlier this month, Converge acquired analytics and AI (artificial intelligence) consultancy Newcomp Analytics. 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.