Converge on European M&A roll with £39m Stone purchase

Canadian IT solutions provider follows up German acquisition by grabbing UK system builder

Doug Woodburn
clock • 2 min read
Converge on European M&A roll with £39m Stone purchase

UK edtech stalwart Stone Group has been snapped up for £39.2m in the latest example of cross-Atlantic channel consolidation. The PC builder, reseller and ITAD - which has been owned since 2019 by private equity house Souter Investments - is set to be gobbled by acquisitive Canadian IT and cloud solutions provider Converge Technology Group. Snapping up 35 companies inside five years, Converge leapt into Germany this June with a triple acquisition of local edtech suppliers. Its net revenu...

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