ConvergeOne is acquiring Venture Technologies, a solutions integrator in Ridgeland, Mississippi. WhiteLight Group, the business application consulting arm of Venture Technologies, is not included in the deal. Financial terms were not disclosed.
The deal, expected to close within 30 days or so, comes as ConvergeOne itself changes ownership. Private equity firm CVC Fund in November 2018 confirmed plans to acquire ConvergeOne for $1.8 billion.
ConvergeOne Acquires Venture Technologies: Details
Meanwhile, Venture Technologies, founded in 1986, has somewhere between 50 and 200 employees, according to the company's LinkedIn profile. The company's business includes:
- tier one partnerships with Cisco Systems, Dell EMC, VMware and Pure Storage;
- offices in Alabama, Colorado, Illinois, Louisiana, Mississippi, Tennessee, Wisconsin and Wyoming;
- VTCloud-branded data centers in Naperville, Illinois, Jackson, Mississippi, and Englewood, Colorado;
- "thousands" of domestic and international customers that leverage VTCloud;
- Cisco-certified professionals who operate a managed services support center; and
- private and hybrid cloud solutions.
ConvergeOne Acquires Venture Technologies: Executive Views
In a prepared statement, ConvergeOne CEO John A. McKenna Jr. said:
"This acquisition will complement ConvergeOne's already comprehensive portfolio and expand the collaboration solutions we offer customers today. Venture Technologies has a strong portfolio of cloud and data center services, as well as business expertise in the education, healthcare, and financial services verticals. This acquisition will enable ConvergeOne to increase our presence in the southern and western United States and advance our leadership position as a single-source provider of collaboration cloud offers, services, and support."
Added Venture Technologies CEO Gerard Gibert:
"Venture Technologies' 32 years of success is grounded in the principles of honoring commitments and treating our staff, customers and technology partners with integrity and respect," said Gerard Gibert, CEO, Venture Technologies. "From initial discussions with ConvergeOne, it was evident that our companies share these values. By joining ConvergeOne, our customers will gain access to a broader solutions portfolio, and our staff will have access to expanded opportunities afforded by a growing, nationwide organization. We are thrilled to be joining the ConvergeOne team."
ConvergeOne: List of Acquisitions
ConvergeOne has been an active buyer on the M&A front. Recent acquisitions include:
- October 2018: Acquired Advantel Networks for West Coast reach
- February 2018: Acquired Arrow Electronics' system integration business
- December 2017: Acquired Microsoft and Cisco partner Alexander Open Systems (OAS)
- August 2017: Acquired Cisco and Avaya Partner SPS
- December 2017: Acquired Cisco & VMware Partner Annese & Associates
- December 2015: Acquired Cisco Gold Partner SIGMAnet
ConvergeOne serves more than 10,400 customers, including 62 percent of the Fortune 100 and 48 percent of the Fortune 500 customers across the healthcare, finance, manufacturing, education, and energy industries, the company says.