Troika Media Group Inc. agreed to acquire Converge Direct LLC and its affiliates for $125 million. Converge is a leading independent marketing and customer acquisition business. TMG is a brand consultancy and marketing innovations company that provides integrated branding and marketing solutions for global brands. What Happened Both the boards and shareholders of Troika and Converge have unanimously approved the transaction. It will likely close by March 15. Troika will fund the transaction with a combination of new debt financing, a restricted stock grant, and cash on hand at closing. Sid Toama, former COO of Converge, will join Troika’s board and serve as President of Troika. Tom Marianacci, Founder and CEO of Converge, will remain CEO of the Converge entities and be a board advisor to Troika. Why It Matters Converge, and its affiliates have grown to ~$300 million in annualized revenue and $23 million in adjusted EBITDA for the …