ConvergeOne Is Minnesota’s Newest Public Tech Company: CVON



Via News Release

“EAGAN, Minn. and NEW YORK, Feb. 23, 2018 /PRNewswire/ — Forum Merger Corporation (“Forum”), and ConvergeOne, Inc., a leading global IT services provider of collaboration and technology solutions, today announced that they have completed their previously announced business combination.

The business combination was approved at a special meeting of stockholders of Forum on February 20, 2018, and closed on February 22, 2018. In connection with the transaction, Forum has changed its name to ConvergeOne Holdings, Inc.”

(“ConvergeOne” or the “Company”). The shares of common stock of ConvergeOne will begin trading on the Nasdaq today, February 23, 2018, under the symbol “CVON” and the warrants of ConvergeOne will trade on the Nasdaq under the symbol “CVONW.” Clearlake Capital Group, L.P. (“Clearlake”), ConvergeOne’s current private equity sponsor, will remain the largest stockholder in the combined company. This combination positions ConvergeOne to continue to execute on the compelling growth opportunities in the rapidly evolving IT and managed services markets.

“The completion of this transaction and listing on the Nasdaq signifies a momentous milestone for ConvergeOne,” said John A McKenna Jr, Chairman and CEO of ConvergeOne. “With a twenty-five-year legacy combined with a solid long-term vision for growth and value, we are thrilled with the opportunity ahead of us. Taking our company public is a testament to the hard work and dedication of the entire ConvergeOne team, who share in the vision, mission, and values to continue our journey together, one customer success at a time.”

David Boris, Co-Chief Executive Officer of Forum, stated, “ConvergeOne’s leadership team has done a tremendous job of establishing the company as one of the most proven and trusted independent providers of IT services and collaboration solutions in the market today.”

Marshall Kiev, Co-Chief Executive Officer of Forum, stated, “Our goal was to not just find an investment, but a true partner with a strong financial profile, a time-tested business model and a platform that allows for steady, continued growth. ConvergeOne has exceeded all those expectations, and we’re excited to watch John and the ConvergeOne team build on their legacy of success as a public company under continued private equity leadership.”

Behdad Eghbali, Managing Partner and Co-Founder at Clearlake, added, “Since our initial investment, ConvergeOne has executed on its buy-and-build strategy and rapidly grown its managed services capabilities to become a clear market leader. We are proud of our partnership and accomplishments with ConvergeOne’s world-class team and are excited about the prospects of ConvergeOne as a public company. We remain a significant stockholder and look forward to continuing our partnership with the ConvergeOne management team as they continue ConvergeOne’s strategic growth initiatives.”

J.P. Morgan, Credit Suisse, UBS Investment Bank, William Blair, Raymond James, Jefferies, Needham and BTIG, LLC acted as financial advisors to ConvergeOne and Clearlake. Cooley LLP and Hogan Lovells served as legal counsel to ConvergeOne and Clearlake. Evercore, EarlyBirdCapital and Cowen Group served as financial advisors to Forum. Ellenoff Grossman & Schole LLP served as legal counsel to Forum.