The Paragon Development Systems office in Brookfield. Photo courtesy of Google Maps.
Brookfield-based Paragon Development Systems, Inc. was acquired by Toronto-based Converge Technology Solutions Corp. Terms of the agreement were not disclosed. A press release from Converge Technology Solutions Corp. indicates that the consideration for the purchase…
Based in Brookfield Paragon Development Systems, Inc. was acquired by the Toronto-based company Converge Technology Solutions Corp. The terms of the contract are not disclosed. A press release from Converge Technology Solutions Corp. indicates that the consideration for the purchase consisted of $52 million in cash paid at closing. A positive net working capital was also paid at closing. Paragon Development Systems (PDS) offers data center technologies, end user technologies, service desk, staff augmentation service, identity and access management product and managed services capability. PDS advises clients as they work to upgrade and modernize their core technology infrastructure. Their customers are primarily in the healthcare, public sector, and corporate markets. Converge is an IT and cloud software solutions provider. “PDS’ knowledge and expertise in healthcare will enhance Converge’s ability to provide enterprise solutions and managed services to our healthcare customers across North America,” said Shaun Maine, president -CEO of Converge. “Additionally, PDS’ presence in the Central region will give us more scale in Wisconsin, Illinois and Minnesota to help us continue to meet the demands of our customers in these regions.
