Converge Technology Solutions Acquires Creative Breakthroughs, Inc.
April 1, 2022
Converge Technology Solutions Corp. (TSX:CTS) acquired cybersecurity solutions provider Creative Breakthroughs, Inc. (CBI), a Ferndale, Michigan–based managed security and cybersecurity services firm. Consideration included US$47.0 million in cash plus working capital in excess of $3M and up to US$17 million in earn-outs; the deal expands Converge’s cybersecurity capabilities and is expected to be immediately accretive.
- Buyers
- Converge Technology Solutions Corp.
- Targets
- Creative Breakthroughs, Inc.
- Industry
- Cybersecurity
- Location
- Michigan, United States
- Transaction Type
- Buyout
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