- Converge Technology Solutions Corp. (CTS) has announced that it has acquired cybersecurity solutions provider Creative Breakthroughs, Inc. (CBI)
- CBI is headquartered in Ferndale, Michigan, United States, with a presence in regions across the United States.
- CBI is the thirtieth acquisition announced by Converge or its affiliates since October 2017.
- Converge is a software-enabled IT & Cloud Solutions provider focused on delivering industry-leading solutions and services
- Converge Technology Solutions Corp. (CTS) rose to $10.37 by 0.14 or 1.369 per cent at 9:46 AM ET
Converge Technology Solutions Corp. (CTS) has announced that it has acquired cybersecurity solutions provider Creative Breakthroughs Inc. (CBI)
CBI is headquartered in Ferndale, Michigan with a presence in regions across the United States.
CBI identifies and stops would-be breaches before they impact an organization.
CBI’s main focus areas of threat-detection and obstruction lie in helping defend and secure networks and endpoints, testing and monitoring areas of operational risk, and protecting data. The company’s offerings range from security programs to architecture and integration to managed security.
“By joining Converge, CBI will now be able to take what we do to a much larger audience, integrate with key new partnerships, and have in-depth conversations regarding Cloud, Analytics, and Digital Infrastructure at the level our clients have come to expect,” said Steve Barone, CEO of CBI.
“CBI’s knowledge of the security landscape and the strength of their team and solutions will be a major asset for Converge’s cybersecurity practice and our ability to continue protecting our clients with the best threat defenses for their organizations,” noted Greg Berard, President of Converge.
“CBI expands our security portfolio immediately by bringing more strategic partnerships and a team of strong technical resources across North America that will provide cybersecurity expertise and value for all of our Converge clients,” he added.
CBI generated gross revenue of approximately C$112 million with adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of C$9.1 million for the trailing twelve-month period ended January 31, 2022.
Consideration for the purchase consisted of US$47.0 million and earn-out payments of up to US$17 million payable over three years.
CBI marks the thirtieth acquisition announced by Converge or its affiliates since October 2017.
Converge is a software-enabled IT & Cloud Solutions provider focused on delivering industry-leading solutions and services.
Converge Technology Solutions Corp. (CTS) rose to $10.37 by 0.14 or 1.369 per cent at 9:46 AM ET.
