Eagan, MN – June 18, 2018 – ConvergeOne Holdings, Inc. (NASDAQ: CVON) (“ConvergeOne” or the “Company”), a leading global IT services provider of collaboration and technology solutions, today announced that as part of the annual reconstitution of the Russell stock indexes, ConvergeOne is expected to be included in the Russell 2000 Index, the Russell Microcap Index, and the broad-market Russell 3000 Index. The Russell index changes will be effective upon commencement of U.S. trading hours on June 25, 2018.
“We are pleased to be added to the Russell 2000® and the Russell 3000® Indexes,” said John A. McKenna Jr., Chairman and CEO, ConvergeOne. “We believe our inclusion will increase ConvergeOne’s exposure with a broader group of institutional investors and represents another important milestone for us after our listing on the Nasdaq in February 2018.”
Membership in the Russell 3000 Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000 Index or small-cap Russell 2000 Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell US Indexes primarily by objective, market-capitalization rankings and style attributes.
Russell US Indexes are widely used by investment managers and institutional investors as the basis for index funds and as benchmarks for active investment strategies. Approximately $9 trillion in assets are benchmarked against Russell US Indexes. Russell US Indexes are part of FTSE Russell, a leading global index provider.
For more information on the Russell 3000 Index and the Russell US Indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.
Founded in 1993, ConvergeOne is a leading global IT services provider of collaboration and technology solutions for large and medium enterprises with decades of experience assisting customers to transform their digital infrastructure and realize a return on investment. Over 9,200 enterprise and mid-market customers trust ConvergeOne with collaboration, enterprise networking, data center, cloud and security solutions to achieve business outcomes. Our 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. We deliver solutions with a full lifecycle approach including strategy, design and implementation with professional, managed and support services. ConvergeOne holds more than 6,000 technical certifications across 1,700 engineers throughout North America including three Customer Success Centers. More information is available at www.convergeone.com.
About FTSE Russell
FTSE Russell is a leading global index provider creating and managing a wide range of indexes, data and analytic solutions to meet client needs across asset classes, style and strategies. Covering 98% of the investable market, FTSE Russell indexes offer a true picture of global markets, combined with the specialist knowledge gained from developing local benchmarks around the world.
FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $16.2 trillion is currently benchmarked to FTSE Russell indexes. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create investment funds, ETFs, structured products and index-based derivatives. FTSE Russell indexes also provide clients with tools for asset allocation, investment strategy analysis and risk management.
A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on index innovation and customer partnership applying the highest industry standards and embracing the IOSCO Principles. FTSE Russell is wholly owned by London Stock Exchange Group.
For more information, visit www.ftserussell.com.
Forward Looking Statements
This press release includes "forward-looking statements" regarding ConvergeOne, including statements regarding ConvergeOne’s anticipated inclusion in the Russell 1000 Index, Russell 2000 Index, the Russell Microcap Index, and the broad-market Russell 3000 Index, as well as the appropriate growth and value style indexes, and timing of such inclusion, that reflect ConvergeOne's current views and expectations and information currently available. This information is, where applicable, based on estimates, assumptions and analysis that ConvergeOne believes, as of the date hereof, provide a reasonable basis for the information contained herein. Forward-looking statements can generally be identified by the use of forward-looking words such as "will", "expect", "anticipate", "believe", or other similar words, and include statements regarding ConvergeOne's plans, strategies and objectives. These forward-looking statements involve known and unknown risks, uncertainties and other factors, many of which are outside the control of ConvergeOne. ConvergeOne’s actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks, uncertainties and other factors. These risks, uncertainties, assumptions and other important factors include, but are not limited to: (1) the effect of offerings by competitors; (2) the ability of ConvergeOne to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (3) changes in applicable laws or regulations; (4) the possibility that ConvergeOne may be adversely affected by other economic, business, and/or competitive factors; (5) ConvergeOne's ability to identify and integrate acquisitions and achieve expected synergies and operating efficiencies in connection with acquired businesses; (6) ConvergeOne’s ability to continue to meet eligibility requirements of the Russell Indices; and (7) other risks and uncertainties indicated from time to time in the sections titled "Risk Factors" and elsewhere in ConvergeOne’s Quarterly Report on Form 10-Q for the three months ended March 31, 2018 and in other documents filed with the Securities and Exchange Commission by ConvergeOne. Except as required under applicable law, ConvergeOne expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein reflect any change in ConvergeOne’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.
Vice President, Marketing, ConvergeOne
Investor Relations Contact:
ICR for ConvergeOne