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New Deal


Announced

Riverside to merge Convergence Networks and Grade A.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Cross Border

cybersecurity

Private

Private Equity

Majority

Merger

Canada

managed services provider

Software

Pending

Acquisition

Single Bidder

Friendly

Synopsis

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Riverside Partners, a private equity investment firm, agreed to merge Convergence Networks, a cybersecurity firm, and Grade A, an Ottawa-based managed services provider. Financial terms were not disclosed. "We are excited to invest in these two complementary companies that provide best-in-class IT and cybersecurity services to SMB clients. The merged company's clients can continue to rely upon the same personalized local service they have become accustomed to receiving. At the same time, the newly combined company will offer additional services, greater time-zone coverage, and a deeper bench of technical engineers available to address and defend the expanding and everchanging nature of technology," David Del Papa, Riverside General Partner.

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