Converge Technology Solutions Buys PDS: Business Details
PDS provides digital workspace, enterprise solutions, professional service, and managed services to clientele in such vertical markets as Healthcare, Corporate, and Public Sectors. PDS generated annual revenue of approximately C$239 million (roughly US $187.7 million) with an adjusted EBITDA of C$11.4 million (US $9.1 million). Converge Technology Solutions is a software-oriented IT & cloud solutions provider. Areas of expertise include advanced analytics, cloud, and cybersecurity offerings. Key capabilities span managed services and digital infrastructure.Converge has extensive M&A experience. The company has acquired 26 businesses since October 2017, the buyer said.Mason Wells, meanwhile, had owned PDS since February 2011.Converge Technology Solutions Buys PDS: Executive Perspectives
In a prepared statement about the deal, Converge CEO Shaun Maine said:“We’re pleased to announce the addition of Paragon Development Systems, with its expertise in digital transformation, to Converge’s portfolio of companies. PDS’s knowledge and proficiency in the healthcare space will enhance Converge’s ability to deliver enterprise solutions and managed services to our clients in this sector across North America. Additionally, PDS’s presence in the central region will give us more scale across Wisconsin, Illinois, and Minnesota to help us continue to meet the requirements of our clients in these areas.”
“Converge is looking forward to working with Paragon Development Systems leadership to continue driving value and delivering an enhanced level of satisfaction that PDS clients have come to rely on over the past few decades. The synergies between Converge and PDS will allow us to offer increased benefits and an expanded solution portfolio for our mutual clients across North America.”