Brookfield-based Paragon Development Systems, Inc. has been acquired by Toronto-based Converge Technology Solutions Corp. Terms of the deal were not disclosed.
A press release from Converge Technology Solutions Corp. states that consideration for the purchase consisted of $52 million in cash paid at closing. Positive net working capital was also paid out at closing.
Paragon Development Systems (PDS) offers data center technologies, end-user technologies, a service desk, a staff augmentation service, an identity and access management product, and a managed services capability. PDS advises clients as they work to upgrade and modernize their core business technology infrastructure. Their clients are primarily in the health care, public sector and corporate markets.
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