Converge: Successful Merger and Acquisition with Mainline Forming Pellera Technologies
Deal News | Apr 23, 2025 | PR Newswire Cision Converge Technology Solutions Corp.
Converge Technology Solutions Corp. has announced the successful completion of its acquisition by H.I.G. Capital, a leading alternative investment firm. Following the acquisition, Converge has merged with Mainline Information Systems, an existing H.I.G. portfolio company, creating a new entity named Pellera Technologies. Pellera Technologies is set to be a major player in the IT solutions market, providing cutting-edge services in cybersecurity, cloud, digital infrastructure, and artificial intelligence, with pro forma revenues of $4 billion in 2024. The combined expertise of Converge and Mainline promises to deliver exceptional IT solutions to enterprise clients. The new organization will be headquartered in Tallahassee, Florida, with Greg Berard, former CEO of Converge, serving as CEO of Pellera Technologies. The merger leverages H.I.G.'s financial backing and aims to accelerate investments in innovative technology offerings, strengthening relationships with industry-leading partners.
Sectors
- Information Technology
- Private Equity
Geography
- Canada – Converge Technology Solutions Corp., one of the primary companies involved, is based in Canada.
- United States – Mainline Information Systems, another primary company involved, is based in the United States, with the new entity Pellera Technologies headquartered in Tallahassee, Florida.
Industry
- Information Technology – The article discusses the formation of Pellera Technologies, a company focused on providing IT solutions in areas like cybersecurity, cloud, and AI.
- Private Equity – H.I.G. Capital, a leading alternative investment firm, is central to the acquisition and merger activities described in the article.
Financials
- 69 billion USD – Total assets under management by H.I.G. Capital.
- 4 billion USD – Projected pro forma revenue of Pellera Technologies for 2024.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Converge Technology Solutions Corp. | Target | Company | A company providing IT solutions, acquired by H.I.G. Capital and merged with Mainline Information Systems. |
| H.I.G. Capital | Bidding Company | Company | An alternative investment firm that acquired Converge Technology Solutions and facilitated its merger with Mainline. |
| Mainline Information Systems, LLC | Other Company | Company | An IT solution provider and an existing portfolio company of H.I.G. Capital, merged with Converge. |
| Pellera Technologies | Resulting Company | Company | The newly formed entity after the merger of Converge Technology Solutions and Mainline Information Systems. |
| Greg Berard | CEO of Pellera Technologies | Person | Former CEO of Converge Technology Solutions, now CEO of Pellera Technologies. |
| Jeff Dobbelaere | President and COO of Pellera Technologies | Person | President and CEO of Mainline, now President and COO of Pellera Technologies. |