Converge Technology Solutions has announced its acquisition by H.I.G. Capital in an all-cash transaction valued at approximately C$1.3 billion. Shareholders will receive C$5.50 per share, representing a 56% premium to the closing price on February 6, 2025. The transaction has received unanimous board approval and is supported by shareholders holding 24% of outstanding shares. Following the acquisition, Converge will merge with H.I.G.-owned Mainline Information Systems, creating a combined entity offering broader IT solutions in cybersecurity, cloud, and digital infrastructure. Greg Berard, Converge's CEO, will lead the combined business as CEO, while Mainline's CEO Jeff Dobbelaere will serve as President. The transaction is expected to close in Q2 2025, subject to shareholder approval and regulatory clearances. Converge also announced that its Q4 FY2024 results are expected to be at the high end of previous guidance, with gross profit of $165-178 million and Adjusted EBITDA of $36-47 million.