Channel partner consolidation giant Converge Technology Solutions is seeking its 29th acquisition with the purchase of Interdynamix, with the company on track to acquire upwards of a dozen solution providers in 2022.
The $1.5 billion Quebec-based Converge Technology Solutions (CTS) will acquire approximately $1 billion in revenue per year over the next three years by buying channel partners that focus on mid-market customers, CEO Shaun Maine recently told CRN. In fact, Maine said his company will acquire between eight to 12 channel partners in North America and Europe this year alone.
The ultimate goal is for CTS to enable cloud and digital transformation for mid-market customers who are being underserved across the globe. Once CTS acquires a fellow channel partner, CTS provides them the ability to scale, cross-sell, offer better customer engagement, and expand the cloud capabilities for their mid-market customers.
“Mid-market customers can buy hardware from anyone, but moving those workloads to the cloud—that is what they desperately need. Large enterprises have specialists for that and it’s all about cost to them, but mid-market customers are like, ‘Please help me!’” said Maine in an interview with CRN last month. “Small channel partners can’t afford things like data scientists. They can’t afford the cybersecurity people. These are skillsets that smaller partners are discovering they really need, so they need to be part of something bigger.”
Converge Technology Solutions Buys Interdynamix
Converge Technology Solutions has acquired a total of 28 solution providers since 2017.
The company today unveiled its 29th acquisition with the purchase of solution engineering and business consulting specialist Interdynamix. Financial terms of the deal were not disclosed.
Founded in 1995, Alberta, Canada-based Interdynamix is comprised of architects, engineers, sales and support professionals. The company specializes in solving business problems with innovative solutions and services, ranging from cloud computing and infrastructure to open-source consulting. Home to IDX Labs, Interdynamix also offers functional, technical, and performance testing to validate architecture systems and ensure seamless migrations.
“Joining Converge is truly a game changer for Interdynamix that will allow us to further our business goals,” said Interdynamix CEO Devin Vandenberg in a statement. “Becoming part of Converge elevates our ability to deliver a ‘client first’ approach with expanded solution and service offerings, all while maintaining the highest level of innovation.”
Converge CEO Maine said Interdynamix will give CTS more coverage across Western Canada and Toronto as well as bolster the company’s expertise across hybrid cloud, open source and telecommunications.
CTS Acquisitions In 2022
Earlier this month, CTS acquired cloud Software-as-a-Service (SaaS) specialist 1CRM Systems.
In February, Converge Technology acquired Germany-based Visucom GmbH, which provides screens, interactive blackboards, displays and media control products and services.
In January, Converge Technology bought Delaware-based PDS Holding Company, which included solution provider Paragon Development Systems that specializes in managed services and digital workplace platforms.
CTG made CRN’s 2022 Tech Elite 250 list, representing the most innovative and fastest-growing solution providers in North American.
Maine is bullish on his company’s future due to its unique M&A capabilities and market momentum. “So $1 billion of revenue is our target in 2022, it will probably be north of that,” he told CRN. “There are some fantastic companies that are ready to become part of the family.”