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SOURCE ConvergeOne Holdings, Inc.
ConvergeOne Expands Collaboration Footprint and Portfolio of Services Capabilities with Acquisition
EAGAN, Minn., March 2, 2018 /PRNewswire/ -- ConvergeOne Holdings, Inc. (NASDAQ: CVON, CVONW), a leading global IT services provider of collaboration and technology solutions, today announced that it has completed the transaction to acquire Arrow Electronics' Systems Integration business, specializing in unified communications, contact center, and voice and data technologies.
"With this acquisition, ConvergeOne gains resources and capabilities that continue to elevate our role as a trusted advisor and leading provider of collaboration and digital transformation technologies, support and services to our customers," said John A McKenna Jr., Chairman and CEO, ConvergeOne. "This acquisition adds to ConvergeOne's already comprehensive portfolio and expands our managed and professional service capabilities we offer customers today."
ConvergeOne serves as a trusted advisor to more than 7,200 customers, including 57 percent of the Fortune 100 and 43 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 offerings in the industry. Since 2005, ConvergeOne has successfully acquired 16 companies.
About Arrow Electronics
Arrow Electronics (www.arrow.com) is a global provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions. Arrow serves as a supply channel partner for more than 150,000 original equipment manufacturers, value-added resellers, contract manufacturers, and commercial customers through a global network. The company maintains over 300 sales facilities and 45 distribution and value-added centers, serving over 80 countries.
Founded in 1993, ConvergeOne is a leading global IT service provider of collaboration and technology solutions for large and medium enterprise with decades of experience assisting customers to transform their digital infrastructure and realize a return on investment. Over 7,200 enterprise and mid-market customers trust ConvergeOne with collaboration, enterprise networking, data center, cloud and security solutions to achieve business outcomes. Our investments in cloud infrastructure and managed services provide transformational opportunities for customers to achieve financial and operational benefits with leading technologies. ConvergeOne has partnerships with more than 300 global industry leaders, including Avaya, Cisco, IBM, Genesys and Microsoft to customize specific business outcomes. We deliver solutions with a full lifecycle approach including strategy, design and implementation with professional, managed and support services. ConvergeOne holds more than 2,100 technical certifications across hundreds of engineers throughout North America including three Customer Success Centers. More information is available at www.convergeone.com.
This press release includes "forward-looking statements" regarding ConvergeOne and anticipated benefits from the acquisition of Arrow Electronics' Systems Integration business that reflect ConvergeOne's current views and information currently available. This information is, where applicable, based on estimates, assumptions and analysis that ConvergeOne believes, as of the date hereof, provide a reasonable basis for the information contained herein. Forward-looking statements can generally be identified by the use of forward-looking words such as "may", "will", "would", "could", "expect", "intend", "plan", "aim", "estimate", "target", "anticipate", "believe", "continue", "objectives", "outlook", "guidance" or other similar words, and include statements regarding ConvergeOne's plans, strategies, objectives, targets and expected financial performance. These forward-looking statements involve known and unknown risks, uncertainties and other factors, many of which are outside the control of Forum, ConvergeOne and their respective officers, employees, agents or associates. These risks, uncertainties, assumptions and other important factors include, but are not limited to: (1) ConvergeOne's ability to recognize the anticipated benefits of the acquisition of Arrow Electronics' Systems Integration business, which may be affected by, among other things, competition, the ability of ConvergeOne to integrate and grow such business, maintain relationships with customers and suppliers and retain its management and key employees; (2) costs related to the acquisition; (3) changes in applicable laws or regulations; (4) the possibility that ConvergeOne may be adversely affected by other economic, business, and/or competitive factors; (5) ConvergeOne's ability to identify and integrate additional acquisitions and achieve expected synergies and operating efficiencies in connection with acquired businesses; and (6) other risks and uncertainties indicated from time to time in documents filed or to be filed with the Securities and Exchange Commission ("SEC") by ConvergeOne.
Actual results, performance or achievements may differ materially, and potentially adversely, from any projections and forward-looking statements and the assumptions on which those vary from forward-looking statements are based. There can be no assurance that the data contained herein is reflective of future performance to any degree. You are cautioned not to place undue reliance on forward-looking statements as a predictor of future performance as projected financial information, cost savings, synergies and other information are based on estimates and assumptions that are inherently subject to various significant risks, uncertainties and other factors, many of which are beyond our control. All information herein speaks only as of (1) the date hereof, in the case of information about ConvergeOne, or (2) the date of such information, in the case of information from persons other than ConvergeOne. ConvergeOne undertakes no duty to update or revise the information contained herein. Forecasts and estimates regarding ConvergeOne's industry and end markets are based on sources we believe to be reliable, however there can be no assurance these forecasts and estimates will prove accurate in whole or in part.
Vice President, Marketing, ConvergeOne
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ICR for ConvergeOne
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