Convergence Networks, backed by private equity firm Riverside Partners, has acquired managed IT, cybersecurity, and communications services provider SWAT Systems. Financial terms of the MSP M&A deal were not disclosed.
This is technology M&A deal number 737 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.
Convergence Networks, founded in 2000, is based in Portland, Oregon. The company has 799 employees listed on LinkedIn. Convergence’s areas of expertise include IT Support & Consulting, Managed Services, Information Security, Strategic vCIO Consulting, Cloud Solutions, Compliance, Compliance Management and Oversight, Security Management, Cybersecurity, and Microsoft 365.
SWAT Systems, founded in 1999, is based in Seattle, Washington. The company has 43 employees listed on LinkedIn. SWAT’s areas of expertise include Flat-Fee IT & Network Solutions, Managed Services - SWAT TotalCare, Remote Monitoring - SWAT RMON, Network Protection - SWAT TotalSecurity, BDR: Backup & Disaster Recovery - SWAT TotalDefense, and Server Visualization and Migration.
Converge Acquires SWAT: Leadership Insight
In a prepared statement about the deal, Mat Lafrance, CEO, Convergence Networks, commented:
"We are thrilled to welcome Jason, Dave, and the entire SWAT Systems team to the Convergence Networks family. They are an excellent fit with the existing people-centric approach at Convergence Networks and further strengthens our deep bench of technical talent and geographic reach."
Jason Hagens, founder and CEO, SWAT Systems, added :
"SWAT Systems was founded over 20 years ago with the goal of eliminating IT headaches for those that use it every day. Joining with Convergence Networks will allow us to maintain the culture that we have built at SWAT Systems and allow us to grow even faster as a combined organization."
David Del Papa, a general partner at Riverside Partners, noted:
"SWAT Systems is a great fit with the Convergence Networks platform. Seattle has always been one of our top target markets for expansion and the combined company will be able to continue to differentiate itself as an organization that focuses on providing strategy, security, and support for its clients' technology challenges today and tomorrow."
David Belluck, a general partner at Riverside Partners, concluded:
"Over the course of Riverside Partners' investment in Convergence, the Company has grown both organically and through M&A. The acquisition of SWAT Systems is the next step in its growth. We are eager to support the combined team as they continue to build the Convergence Networks platform."
Converge Networks’ Growth Path
In December 2020, Riverside backed the merger of Convergence Networks and Grade A, leading to the formation of the new company. The following April, the newly merged company also acquired Application Specialist Kompany (ASK), combining the companies’ leadership teams and staff in the process. For a period, the company continued under the moniker "Convergence/Grade A," but appears to have recently dropped the suffix from its name.