Exhibit 99.1
ConvergeOne Announces Planned Strategic Acquisition of Venture Technologies
ConvergeOne Expands Collaboration Capabilities and National Footprint with Acquisition
EAGAN, Minn., December 11, 2018 — ConvergeOne Holdings, Inc. (Nasdaq: CVON), a leading global IT services provider of collaboration and technology solutions, today announced that it has signed an agreement to acquire VT Consolidated, Inc. (“Venture Technologies”), a leading solutions integrator headquartered in Ridgeland, Mississippi. WhiteLight Group, a business application consulting entity acquired by Venture Technologies in 2016, is not included in this transaction. Venture Technologies delivers premise infrastructure solutions, collaboration solutions, and cloud services to businesses nationwide. Completion of the transaction is expected to occur within 30 days.
“This acquisition will complement ConvergeOne’s already comprehensive portfolio and expand the collaboration solutions we offer customers today,” said John A. McKenna Jr., Chairman and CEO, ConvergeOne. “Venture Technologies has a strong portfolio of cloud and data center services, as well as business expertise in the education, healthcare, and financial services verticals. This acquisition will enable ConvergeOne to increase our presence in the southern and western United States and advance our leadership position as a single-source provider of collaboration cloud offers, services, and support.”
ConvergeOne serves as a trusted advisor to more than 10,400 customers, including 62 percent of the Fortune 100 and 48 percent of the Fortune 500 customers across the healthcare, finance, manufacturing, education, and energy industries.
Growth through acquisition is an integral part of ConvergeOne’s long-term business strategy to develop a comprehensive portfolio that provides one of the broadest and deepest solution offers in the industry.
“Venture Technologies’ 32 years of success is grounded in the principles of honoring commitments and treating our staff, customers and technology partners with integrity and respect,” said Gerard Gibert, CEO, Venture Technologies. “From initial discussions with ConvergeOne, it was evident that our companies share these values. By joining ConvergeOne, our customers will gain access to a broader solutions portfolio, and our staff will have access to expanded opportunities afforded by a growing, nationwide organization. We are thrilled to be joining the ConvergeOne team.”
About Venture Technologies
Venture Technologies, Inc. is a premier IT solutions provider that delivers Premise Infrastructure Solutions, Collaboration Solutions and, VTCloud® Services and Business Applications Consulting Services to private and public organizations throughout the United States and abroad. Venture Technologies offers a powerful convergence of technology infrastructure and business applications, providing expanded services, security and reliability. More information is available at www.ventech.com.