CTSDF - Converge Technology Solutions to acquire PC Specialists for $74M
Converge Technology Solutions (OTCQX:CTSDF) said Thursday it will acquire PC Specialists, dba Technology Integration Group. Consideration for the acquisition consists of $74M in cash to be paid at closing. Positive net working capital will also be paid out at closing. The purchase multiple is ~5.96x adj. EBITDA for the trailing 12-month period ended Oct. 31, 2021, after adjusting for positive working capital. The acquisition is expected to be immediately accretive to CTSDF. Headquartered in San Diego, California, TIG specializes in optimized performance solutions and critical business support.
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Converge Technology Solutions to acquire PC Specialists for $74M