King & Wood Mallesons (KWM) advised the shareholders of REDNET AG (REDNET) on a partnership investment with Converge Technology Solutions Corp. (Converge).
REDNET, an IT service provider headquartered in Mainz, was incorporated in 2004 and specializes in serving education, healthcare and government/public sectors. As an IT hardware outfitter and managed services provider, the company supports, among others, public authorities, educational institutions and the healthcare sector in the implementation of their digitization concepts. With a heavy focus on 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.
Converge, headquartered in Toronto, Canada, is a listed software-enabled IT & Cloud Solutions provider focused on delivering industry-leading solutions and services. Converge's regional sales and services organizations deliver advanced analytics, cloud, and cybersecurity offerings to clients across various industries.
Converge's investment in REDNET, with strong financial backing from the previous owner family, is Converge's first major acquisition in Germany. For REDNET, the partnership with Converge means a step towards further growth with operational continuity.
Advisors to shareholders of REDNET AG:
Dr. Michael Roos, Dr. Tilmann Becker, Lorenz Liebsch, Simon Brandt (PSL), Dr. Katrin Thoma, Markus Herz, Damian Thiele, Julian Buhr (PSL) (all Corporate/M&A), Markus Hill, Rüdiger Knopf, Viktoria Rosbach (all Tax), Daniel Ehret, Dr. Stephan Klein, Zuhal Uysal (PSL) (all Finance)