ConvergeOne, backed by private equity firm CVC Fund, has acquired Amazon Web Services (AWS) partner Prime TSR, a modernization and cloud solutions consultancy, for an undisclosed sum.
This is technology M&A deal number 787 that ChannelE2E has covered so far in 2021. See all technology M&A deals for 2021 and 2020 listed here.
Based in Chicago, Illinois, Prime TSR designs and implements cloud-focused software and data platforms for its customers. Founded in 2013, the company creates custom cloud-based applications and data platforms for Fortune 1000 companies in the healthcare, insurance and professional services markets.
ConvergeOne Acquires Prime TSR: “An Ideal Addition”
John A. McKenna Jr., chairman and CEO, ConvergeOne, commented:
"This acquisition is an ideal addition to the ConvergeOne portfolio and represents a natural progression in our ongoing strategy to deliver innovative, cloud-based solutions to our customers. The Prime TSR team shares our focus and commitment to deliver modernization solutions that solve complex IT business challenges. I am thrilled to welcome Prime TSR to the ConvergeOne team."
Eugene Khazin, principal and co-founder, Prime TSR, said:
"At Prime TSR, we empower our customers to realize their business outcomes by untangling their most challenging IT circumstances. As part of ConvergeOne, we are now able to offer greater value to our customers through a nationwide market presence, a strategically growing portfolio of capabilities, and a shared vision for connecting people with purpose."
Josh Davidson, principal and co-founder, Prime TSR, added:
"Together, ConvergeOne and Prime TSR will create innovative solutions for our customers that shape the future of cloud, collaboration, and digital infrastructure technology. We are excited to join ConvergeOne."
About ConvergeOne
Based in Eagan, Minnesota, ConvergeOne provides cloud, collaboration and digital infrastructure solutions.
ConvergeOne serves more than 10,400 customers, including 62% of the Fortune 100 and 48% of the Fortune 500 customers across the healthcare, finance, manufacturing, education and energy industries, the company says.
The company came under scrutiny in early 2019 when Bloomberg reported that a ConvergeOne employee may have committed fraud, leading to a potential $11 million inventory writedown for the company.
ConvergeOne has been an active buyer on the M&A front. Past acquisitions include:
- November 2021: Technology solution provider WrightCore.
- June 2021: Salesforce provider NuAge Experts.
- March 2021: Acquired education services provider AAA Network Solutions
- December 2018: Acquired Venture Technologies, a Cisco Partner
- October 2018: Acquired Advantel Networks for West Coast reach
- February 2018: Acquired Arrow Electronics’ system integration business
- December 2017: Acquired Microsoft and Cisco partner Alexander Open Systems (OAS)
- August 2017: Acquired Cisco and Avaya Partner SPS
- December 2017: Acquired Cisco & VMware Partner Annese & Associates
- December 2015: Acquired Cisco Gold Partner SIGMAnet
