CA - Converge Technology Solutions acquires Newcomp Analytics for C$20.3M

• Converge Technology Solutions ( OTCQX:CTSDF ) said Monday it acquired Canada-based Newcomp Analytics , which provides analytics solutions to companies, for C$20.3M in cash paid at closing.
• Positive net working capital will also be paid out at closing.
• Purchase multiple would be ~6x adj. EBITDA for the trailing 12-month period ended Jul. 31.
• The acquisition is expected to be immediately accretive to CTSDF, resulting in increased revenue and adj. EBITDA.
• Newcomp Analytics offers advisory and development services, along with managed analytics and analytic bootcamps.

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