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Clearlake Capital-Backed ConvergeOne Announces Acquisition of SPSEAGAN, Minn., Aug. 17, 2017 /PRNewswire/ -- ConvergeOne, a leading IT services provider of collaboration and technology solutions, today announced that it has acquired Strategic Products and Services ("SPS"), a global, multivendor communication and networking managed service provider headquartered in New Jersey. Effective immediately, SPS is now SPS, a ConvergeOne Company. This acquisition solidifies ConvergeOne's position as a leading provider of collaboration and IT enabled solutions in the market today. ConvergeOne serves as a trusted advisor to more than 7,000 customers, including 52 percent of the Fortune 100 and 40 percent of the Fortune 500 customers across the healthcare, finance, manufacturing, education, and energy industries. ConvergeOne's deep technical expertise within collaboration, enterprise networking, data center, cloud and security solutions and its end-to-end service capabilities differentiate the company from other IT service providers. Through existing relationships with more than 300 next generation technology partners, ConvergeOne provides leading, multivendor solutions and services that solve customers' business challenges regardless of their existing infrastructure. "This acquisition advances our strategy to continue to grow ConvergeOne's managed services and cloud solutions," said John A. McKenna Jr., Chairman and CEO, ConvergeOne. "With this acquisition, ConvergeOne gains scale, portfolio expansion with a growing video solution, additional managed services, and technical resources backed by decades of experience and certified expertise." "We are excited to support John and the management team in the combination of ConvergeOne and SPS," added Behdad Eghbali and James Pade of Clearlake. "As a result of the acquisition strategy, ConvergeOne now has additional scale, resources, and a broader solutions portfolio to support the collaboration and IT solutions needs of its customers. With the SPS transaction complete, ConvergeOne further positions itself as the leading provider of multi-vendor IT solutions and managed services to enterprises." SPS, a ConvergeOne Company will be led by John F. Lyons, President and CEO, Enterprise, ConvergeOne. "This acquisition strngthens our organization with an experienced group of world-class sales and technical resources," said Lyons. "ConvergeOne and SPS customers will gain more choices from a broader portfolio of services and solutions, delivered with the same great customer service both organizations are known for." "ConvergeOne's investment in our business strengthens SPS and enables us to better service our clients and strategic partners now and into the future," said Ed Nalbandian, CEO of SPS. "Being part of ConvergeOne, SPS is well-positioned to leverage our combined managed services capabilities to become a clear market leader. Going forward, it is business as usual, with additional resources, as we remain highly focused on our clients' success." Houlihan Lokey acted as SPS's exclusive investment banker for the transaction. About ConvergeOne About Clearlake Capital Group, L.P. About Strategic Products and Services Media Contact: For Clearlake: Jennifer Hurson
View original content with multimedia:http://www.prnewswire.com/news-releases/clearlake-capital-backed-convergeone-announces-acquisition-of-sps-300506167.html SOURCE ConvergeOne |