Brief: Converge Tech Solutions Acquires Creative Breakthroughs

Converge Technology Solutions

01/04/2022 13:34

April 1 (Reuters) - Converge Technology Solutions Corp
 CTS.TO :
    * CONVERGE TECHNOLOGY SOLUTIONS CORP. ACQUIRES CREATIVE
BREAKTHROUGHS, INC.
    * CONVERGE TECHNOLOGY SOLUTIONS CORP- CONSIDERATION FOR
PURCHASE
CONSISTED OF US$47.0 MILLION
    * CONVERGE TECHNOLOGY SOLUTIONS CORP- CONSIDERATION ALSO
INCLUDED
WORKING CAPITAL IN EXCESS OF $3M  AND EARN-OUT PAYMENTS OF UP TO
US$17 MILLION IN AGGREGATE
    * CONVERGE TECHNOLOGY SOLUTIONS CORP- ACQUISITION IS
EXPECTED TO
BE IMMEDIATELY ACCRETIVE TO CONVERGE, RESULTING IN INCREASED
REVENUE AND ADJUSTED EBITDA

Source text for Eikon:  ID:nGNX5w8Tf5 
Further company coverage:  CTS.TO 

 ((Reuters.Briefs@thomsonreuters.com;))