Clearwater International has advised the shareholder of REDNET AG (REDNET), a leading German IT services provider, on the sale to Converge Technology Solutions Corp. (Converge), one of the major Canadian software-enabled IT & Cloud Solutions provider.
Founded in 2004, REDNET has been advising authorities and educational institutions as a specialised IT outfitter for many years, bringing value through comprehensive, high-quality services and extensive know-how in handling large rollouts. Based in Mainz, Germany, the company specialises in serving education, healthcare, and government/public sectors, providing detailed advice, economic planning, smooth logistics, and fast service to their clients. Valued as a reliable and competent partner, REDNET maintains important hardware framework agreements such as with the Rhineland-Palatinate State Office for Data and Information (LDI), the Hessian ekom21, and the Johannes Gutenberg University Mainz. With a heavy focus on the environment and sustainability initiatives, REDNET also engages in a 360-degree, holistic approach to increasing IT life cycles through flexible maintenance concepts, while simultaneously focusing on environmental compatibility.
Headquartered in Toronto, Canada, Converge is a software-enabled IT & Cloud Solutions provider focused on delivering industry-leading solutions and services. Converge’s regional sales and services organisations deliver advanced analytics, cloud, and cybersecurity offerings to clients across various industries. The company supports these solutions with managed services, digital infrastructure, and talent expertise offerings across all major IT vendors in the marketplace. This multi-faceted approach enables Converge to address the unique business and technology requirements for all clients in the public and private sectors.
Converge will be a strong partner at REDNET’s side, with whom they will jointly continue the company’s success story throughout Germany. The range of products and services will become even more attractive and as a group of companies, they will offer their customers a comprehensive portfolio from a single source.
The addition of REDNET marks a significant step for Converge as the official expansion into Europe and will greatly increase their ability to serve clients globally. From infrastructure, to service, to operations and logistics, REDNET’s strong capabilities and offerings in the public sector will both enhance Converge’s current services and strengthen their global footprint.
„We have reached our goal after a very professional and streamlined process guided by Clearwater International. It has been very valuable for us to have the Clearwater team and their considerable expertise with us all the way as they ensured that everything ran smoothly, allowing me to concentrate on running my business. Getting into the DNA of our company, summarising it, presenting it and lining it up for potential buyers through their international reach, has allowed us to find the right partner with Converge. There are large synergies as we both deliver high-quality IT services and our combined service portfolio and knowledge make it possible to continue strengthening our position.“ – Barbara Weitzel, CEO, REDNET AG
„We are delighted to have advised the owner of REDNET throughout the sales process. Being a hidden champion for best-in-class IT services in a fast growing market with tremendous expansion opportunities, REDNET is a great example for the successful transformation from a local IT provider to a leading one-stop-shop IT service provider. We are certain that the match between REDNET and Converge will benefit from the continued development, the strong capabilities and offerings of both businesses.“ – Ralph Schmücking, Managing Partner, Clearwater International