Forum Merger Corporation, a special purpose acquisition company, today announced that its stockholders have approved its previously announced merger with C1 Investment Corp., a leading global IT services provider of collaboration and technology solutions (the "Business Combination"). At the special meeting of stockholders, held on February 20, 2018, the stockholders of Forum approved the Business Combination, as well as each of the other matters presented for approval in connection with the Business Combination. Forum and ConvergeOne intend to close the Business Combination as soon as reasonably practicable.
Following the closing of the Business Combination, the combined company will be renamed ConvergeOne Holdings, Inc. and its common stock will trade on the Nasdaq under the symbol "CVON" and its warrants 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 shareholder in the combined company. The combined company will be a "controlled company" under applicable Nasdaq listing rules.
Ellenoff Grossman & Schole LLP served as legal counsel to Forum. Cooley LLP and Hogan Lovells served as legal counsel to ConvergeOne and Clearlake.
About ConvergeOne
Founded in 1993, ConvergeOne is a leading global IT service provider of collaboration and technology solutions for large and medium enterprise with decades of experience assisting customers to transform their digital infrastructure and realize a return on investment. Over 7,200 enterprise and mid-market customers trust ConvergeOne with collaboration, enterprise networking, data center, cloud and security solutions to achieve business outcomes. ConvergeOne's investments in cloud infrastructure and managed services provide transformational opportunities for customers to achieve financial and operational benefits with leading technologies. ConvergeOne has partnerships with more than 300 global industry leaders, including Avaya, Cisco, IBM, Genesys and Microsoft to customize specific business outcomes. ConvergeOne delivers solutions with a full life cycle approach including strategy, design and implementation with professional, managed and support services. ConvergeOne holds more than 2,100 technical certifications across hundreds of engineers throughout North America including three Customer Success Centers. More information is available at www.convergeone.com.
About Forum
Forum Merger Corporation is a blank check company formed for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities. The Company's efforts to identify a prospective target business will not be limited to a particular industry or geographic region. Forum Merger Corporation is led by Executive Chairman Stephen A. Vogel, Co-Chief Executive Officer and President Marshall Kiev and Co-Chief Executive and Chief Financial Officer David Boris. More information is available at www.forummerger.com.
About Clearlake
Clearlake Capital Group, L.P. is a leading private investment firm founded in 2006. With a sector-focused approach, the firm seeks to partner with world-class management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake's operational improvement approach, O.P.S.® The firm's core target sectors are software and technology-enabled services; industrials and energy; and consumer. Clearlake currently has over $7.0 billion of assets under management and its senior investment principals have led or co-led over 100 investments. More information is available at www.clearlake.com.
