Converge Technology Solutions Corp. acquires Gesellschaft


TORONTO and GATINEAU, Quebec, June 15, 2022 (GLOBE NEWSWIRE) — Converge Technology Solutions Corp. (“Converge” or the Company”) (TSX:CTS) (FSE:0ZB) (OTCQX:CTSDF), an IT and cloud software solutions provider, is pleased to announce that it has entered into a definitive agreement to acquire Germany-based organizations Gesellschaft für digital Bildung (“GfdB”), Institut für moderne Bildung (“IfmB”) and DEQSTER.

Based in Germany, GfdB, IfmB and DEQSTER are all organizations focused on the education market enabling schools and universities to implement their digital future. GfdB and IfmB are full-service IT providers for education, offering everything from hardware and software to advanced training and full technical/consulting services. DEQSTER specializes in the development and production of equipment for digital learning and working, with a wide portfolio including tablet cases, protective cases, digital pencils, etc.

With these acquisitions and in combination with the previously acquired REDNET, A Converge Company, and Visucom, A Converge Company, Converge will be a leading education partner in the German market. The new alliance between GfdB, IfmB, DEQSTER, REDNET and Visucom enables all organizations to improve and strengthen their solutions, services and offerings, as well as develop new strategies to better serve the education sector in Germany. This enhanced portfolio will include a bespoke 360° approach that will deepen training in professional and managed services, logistics and system setup, technical services and parental funding.

“As one of the leading providers of complete IT solutions for the education market for many years, GfdB ensures that digitalization in schools and educational institutions takes place in a sustainable way,” said said Mathias Harms, CEO of Gesellschaft für Digital Bildung (GfdB). “Our new strategic partnership with Converge will allow us to significantly expand our range of products and services, as well as offer an even better 360° approach to our customers. In addition, with the new alliance between Gesellschaft für digital Bildung, Institut für moderne Bildung, DEQSTER, REDNET, A Converge Company and Visucom, A Converge Company, we are excited to strengthen our skills in the areas of IT equipment and services. for companies in the education sector.

“I am delighted that our new partnership with Converge allows us to expand our portfolio and offer holistic solutions,” said Cuma Saado, CEO of DEQSTER. “By bringing DEQSTER’s skills together with Converge’s portfolio of companies and strengthening cooperation, our business partners will benefit as we can offer them a much more comprehensive service. As a manufacturer of equipment for digital learning and working, we will also respond to customer wishes in a more targeted manner and can jointly develop 360° solutions that are perfectly suited for educational institutions.

“Together with GfdB and IfmB, REDNET, A Converge Company, will be able to offer German educational institutions an even more comprehensive and holistic portfolio of services aimed at making digital schools a success,” said Barbara Weitzel, CEO of REDNET, A Converge Company. “With DEQSTER, we also have another specialist in accessories for the education market, which further expands our joint portfolio following the acquisition of Visucom, A Converge Company.”

“The addition of GfdB, IfmB and DEQSTER to Converge’s portfolio of businesses in Germany will be a big step forward in our ability to strongly serve the German market,” said Shaun Maine, CEO of Converge. “Building on the successes of REDNET, A Converge Company, and Visucom, A Converge Company, GfdB, DEQSTER and IfmB will also enable us to become the leading education partner in Germany and help us continue to develop the solutions and services for our customers. in Europe.”

GfdB, IfmB and DEQSTER generated revenue of approximately $106 million for the twelve-month period ended March 31, 2022. Consideration for the purchase will be €25 million in cash paid at closing based on a pro rata EBITDA of €6.7 million for the 2022 financial year. In addition, three earn-outs of a maximum of €5 million each will be paid, the last earn-out conditional on achieving a contribution to adjusted EBITDA of €10.8 million in 2024. The purchase multiple would be approximately 4 times adjusted EBITDA for the twelve-month period ended December 31, 2024 The acquisition is expected, upon closing, to be immediately accretive to Converge, resulting in increased revenue and adjusted EBITDA.

GfdB, IfmB and DEQSTER mark the thirty-second acquisition announced by Converge or its subsidiaries since October 2017. The Converge family of companies also includes Corus Group, LLC; Northern Micro, Inc.; 10084182 Canada Inc. trading as Becker-Carroll; Key Information Systems, Inc.; BlueChip Tek, Inc.; Lighthouse Computer Systems, Inc.; Software Information Systems LLC. ; Nordisk Systems, Inc.; Essex Technology Group, Inc.; Datatrend Technologies, Inc.; VSS, LLC; PCD Solutions, Inc.; Unique Digital, Inc.; Workgroup Connections, Inc.; Vivo Application Studios LTD. ; Vicom Computer Services, Inc.; CarpeDatum LLC; Accudata Systems, Inc.; Dasher Technologies, Inc.; ExactlyIT, Inc.; REDNET GmbH; Vicom Infinity, Inc.; Infinity Systems Software, Inc.; LPA Software Solutions, LLC; OPIN Digital, Inc; Paragon Development Systems, Inc.; Visucom GmbH; 1CRM Systems Corp. ; Interdynamix systems; Creative Breakthroughs, Inc.; and PC Specialists, Inc. d/b/a Technology Integration Group.

About GfdB
Gesellschaft für digital Bildung (GfdB, Society for Digital Education) supports schools and educational institutions throughout Germany on their way to the digital future. He sees himself as a process companion who identifies individual digital solutions. As a provider of complete digital solutions, GfdB is a one-stop-shop – offering everything from the right hardware and software to advanced training and comprehensive technical and consulting services. With more than twenty partners from the digital sector, GfdB creates new paths to digitalization – for modern digital courses that inspire teachers and motivate students. For more information on Gesellschaft für Digital Bildung, visit

About IfmB
The Institut für moderne Bildung GmbH (IfmB, Institute for Modern Education) was founded in Tutzing in 2020 and is a partner of educational institutions such as schools and universities on the way to digitization. IfmB’s activities include the development of ideas and the implementation of digital concepts for the education sector. As a provider of complete IT solutions, IfmB supplies hardware and software and provides complete digitization-related services for schools and educational institutions. IfmB offers its clients a 360 degree approach and develops personalized and contemporary digital solutions with a focus on sustainability and innovation. For more information about IfmB, visit

Founded in 2021, the Hamburg-based company develops and produces equipment for digital learning and working. Its portfolio includes tablet cases, protective cases, digital pen, charging cables, chargers and adapters. All DEQSTER products are specially designed for use in schools and educational institutions. The high-quality equipment perfectly meets the requirements of students and teachers for digital accessories. DEQSTER sees itself as an accessory specialist that optimally supports the holistic approach to digital education with its products. Product solutions are distributed nationwide through an extensive network of business partners. For more information about DEQSTER, visit

About Converge
Converge Technology Solutions Corp. is an IT and cloud software solutions provider focused on providing industry-leading solutions and services. Converge’s total solution approach delivers advanced analytics, application modernization, cloud, cybersecurity, digital infrastructure, and digital workplace offerings to customers across various industries. The company supports these solutions with expertise in consulting, implementation and managed services from all major IT vendors in the market. This multi-faceted approach enables Converge to meet the unique business and technology requirements of all public and private sector customers. For more information, visit

For more information, contact:
Converge Technology Solutions Corp.
E-mail: [email protected]
Phone: 416-360-1495


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