Converge Technology Solutions: ISS and Another Proxy Advisor Recommend “FOR” the Arrangement with H.I.G. Capital
Toronto and Gatineau, QC, March 25, 2025 – In an exciting turn of events, Converge Technology Solutions Corp. (Converge) is thrilled to announce that two prominent independent proxy advisory firms, Institutional Shareholder Services Inc. (ISS) and Glass, Lewis & Co. LLC, have recommended that holders of Converge’s common shares (the “Shareholders”) vote “FOR” the special resolution approving the previously announced statutory plan of arrangement under Section 192 of the Canada Business Corporations Act (the “Arrangement”) between Converge and 16728421 Canada Inc. (“the Purchaser”), an affiliate of H.I.G. Capital (“H.I.G.”).
Why Should You Care?
If you’re a Converge shareholder, this news could mean a few things for you:
- Potential for Value Creation: The Arrangement is expected to provide Converge shareholders with significant value through a combination of cash consideration and continued ownership in a larger, more diversified organization. H.I.G. Capital brings a wealth of industry expertise and resources to the table, which could lead to new opportunities and growth for Converge.
- Stability and Security: Joining forces with H.I.G. Capital could provide Converge with greater financial stability and a stronger balance sheet, allowing the company to weather economic downturns and pursue strategic initiatives more effectively.
- Alignment of Interests: H.I.G. Capital’s reputation for successful investments and long-term value creation aligns with Converge’s mission to help its clients build, move, and connect technology solutions. The partnership could lead to a stronger, more successful Converge for all shareholders.
How About the World?
The impact of this Arrangement on the technology industry and beyond could be significant:
- Consolidation and Growth: The merger of Converge and H.I.G. Capital represents another step in the consolidation of the technology industry, bringing together two strong players and creating a larger, more formidable organization. This could lead to increased competition and innovation in the market.
- Investor Confidence: The recommendation from prominent proxy advisors like ISS and Glass, Lewis & Co. could boost investor confidence in Converge and the Arrangement, leading to a smoother transaction process and a stronger market presence for the combined entity.
- Long-Term Value Creation: With H.I.G. Capital’s expertise and resources, Converge could be well-positioned to create long-term value for its shareholders and contribute to the overall growth of the technology sector.
Wrapping Up
In summary, the recommendation from ISS and Glass, Lewis & Co. is a positive sign for Converge shareholders and the technology industry as a whole. The Arrangement with H.I.G. Capital could lead to value creation, stability, and alignment of interests for Converge shareholders. Furthermore, the impact on the technology industry could include consolidation, increased competition, and long-term value creation.
Stay tuned for more updates on this exciting development in the technology industry!
