Good morning, everyone, thank you for participating on today's Q2 earnings call. At our AGM in June, I had the opportunity to discuss the trajectory of our company as we enter into a new phase of growth. Today, I am honored to provide an update on our record Q2 financials, which reaffirm the fact that we are on track to execute the company's three-phase plan by the end of 2021. In what follows, I will provide a business update on the quarter, beginning with commentary on our successful entry into the European market, and I will outline other significant accolades achieved over the past quarter. As a reminder, the new phase of growth the company enters will be dedicated to growing the company from 2 billion in annual revenues to 5 billion in annual revenues over an approximate 4-year period, which will depend heavily on our European strategy and growing our managed services offerings. Keeping that in mind, Converge closed its first European acquisition last week, marking the 23rd acquisition announced over the past 4 years. Located in Mainz, Germany, REDNET AG is an IT services provider specialized in serving education, healthcare, and government public sector, providing detailed advice, economic planning, smooth logistics, and fast service to clients. Acquiring REDNET was truly a momentum statement for the company as we set our sights on expanding into the European markets, allowing us to service clients on an international scale. During Q2, Converge announced strategic changes to our senior management and board members, including the addition of Doris Albiez to the European Advisory Board, along with Thomas Volk and Darlene Kelly to the Converge Board of Directors. Doris is a highly experienced executive who has served in various global roles, leading international teams at IBM and Dell Technologies. Additionally, Thomas Volk is a notable and highly respected senior executive with the unique experience leading global technology enterprises and mid-market companies. These additions, along with Darlene's years of financial and operational experience within the industry, have all proved invaluable to the development of our European strategy and the optimization of our business outlook. Converge's achievements are the direct result of our employees and their collective efforts. I can confidently say that we are thrilled with these additions to the team and their perspectives. In addition to our recent acquisitions in Europe, Converge announced four additional North American acquisitions through Q2. At the beginning of the quarter, we announced Dasher Technologies, an exceptional enterprise networking and cybersecurity IT service provider with a fantastic mid-market customer base on the West Coast. Dasher is the fifth-largest HPE partner in North America and has been awarded multiple HPE awards, including the recently announced HPE 2021 North American SMB Partner of the Year. Complementing our recent North American and global efforts, Converge closed the acquisition of ExactlyIT, a next-generation managed IT service provider headquartered in North Carolina with operational offices in Mexico, which brings a key competitive advantage in both cost to delivery and access to high-quality cloud, cybersecurity, and managed services engineers and experts. ExactlyIT not only advances the company's solutions offerings with comprehensive knowledge in Google Cloud Services, cybersecurity services, and SAP managed services, but also brings valuable clients of various sizes across multiple industries, including Fortune 500 companies and multi-billion dollar international enterprises in North America and Europe. Finally, to wrap the quarter up, Converge announced the signing of a definitive agreement to acquire both Vicom Infinity, a world-class IBM mainframe solutions provider, and Infinity Systems Software, which has been a leading supplier of software and services for IBM platforms for more than 20 years. These transactions are expected to close at the end of this month. As many of you have noted, Converge is extremely meticulous in the execution of its activism strategy. Every subsidiary discussed has resulted in value add for the business, whether that be employee expertise and the delivery of top-notch solutions to advance our managed service efforts, a powerful customer base in various regions to complement our cross-selling initiatives, or strong vendor relationships to secure Converge's position as an industry leader. Time and time again, we've announced the addition of subsidiaries who have trusted relationships with our customers and vendors, and this has been validated with the ongoing awards we continue to secure. During Q2, Converge received five IBM awards, including the 2021 Beacon Award, Top North American Sell Business Partner of the Year, the Top North American IBM and Red Hat Synergy Partner of the Year, the winner of the IBM Data and AI Business Unit Excellence Award for Cloud Pak for Data, and the winner of the IBM Business Unit Excellence Award for Protect: Digital Trust. Additionally, the company upgraded its status with multiple partners, including achieving Titanium status with Intel, Diamond status with Palo Alto Networks, and Elite status with Pure Storage. The accumulation of industry and partner awards has undoubtedly advanced Converge's reputation with both our customers and our partners, allowing us to run our business more effectively while delivering solutions to our clients. Reaffirming this sentiment, Converge was ranked within the top 50 of CRN's 2021 solution provider list. The subsequent to this quarter was ranked 14th on the 2021 Fast Growth 150 list, recognizing the fastest growing North American technology integration solution providers and IT consultants. As highlighted on previous calls, one of the key reasons Converge has been able to position itself for ongoing success has been due to integration and the cross-selling efforts. Greg Berard, our President, has implemented 2 key features that enable cross-selling, customer technical workshops, and executive briefings. In Q2, Converge held 66 customer-facing events, hosting approximately 1,500 external attendees. Primarily as a result of this, Converge has 121 net new logos in the second quarter. Since the beginning of 2021, we have hosted 446 executive briefings initiated by approximately 170 different Converge sales reps, which helps drive the cross-sell of our higher margin cloud managed services, along with our professional services. These executive briefings are building a large pipeline for the remainder of the year and 2022, while allowing our new acquisitions to immediately cross-sell analytics, DevOps, cybersecurity, and cloud managed services. Analyzing our sales for Q2, 17% of our revenue came from the technology sector, 24% from government and education, 24% from finance, 13% from healthcare, and 6% from retail. Regarding recurring revenue in Q2 2021, our gross annualized recurring revenue was CAD 327.9 million. This is made up of CAD 67.5 million of managed services annualized recurring revenue, which are typically on three-year contracts paid monthly, CAD 88.8 million of gross public cloud annualized recurring revenue, which are typically on three-year contracts and paid monthly, and CAD 171.6 million of software subscription support, which are typically paid annually. On that note, I would like to pass the call to our Interim Chief Financial Officer, Matt Smith, to discuss our financials in further detail. Thank you, Shaun. Second quarter revenue increased 52% to CAD 345.3 million, compared to CAD 227.8 million last year. Product revenue, which includes hardware and software, increased 60% to CAD 281.3 million from CAD 175.3 million over last year, primarily due to the impact of acquisitions completed in the second half of 2020 and the first half of 2021, and reflects the overall strengthening of the IT market as companies begin to increase spending now that COVID vaccines have begun to be rolled out. Managed services, which are long-term contracts, increased 21% to CAD 16.9 million from CAD 13.9 million last year, primarily due to organic growth of managed cloud services to customers. With the acquisition of ExactlyIT, which strengthens and expands our managed services capacity, we expect this to be a key area of growth going forward. On an annualized basis, our managed services at the end of the quarter was over CAD 67 million. Professional and other services, which include professional and staffing services and the net revenue from public cloud resell and software support, increased 22% to CAD 47.1 million from CAD 38.6 million last year. As COVID vaccines have increased, we are beginning to see large projects that required in-person services that had previously been put on hold start to be implemented. Shaun mentioned by industry, the breakdown was approximately 24% from the financial sector, 24% from government, 17% from technology, and 13% from healthcare. For the six months ended June 30th, revenue increased 40% to CAD 655.5 million from CAD 469.4 million in 2020. Product revenue increased 46% to CAD 533.8 million from CAD 365.7 million over last year, primarily due to higher hardware sales to the Canadian government and the impact of acquisitions. Managed services revenue increased 21% to CAD 33.3 million from CAD 27.4 million last year. Professional and other services revenue increased 16% to CAD 88.5 million from CAD 76.3 million last year. Gross profit for Q2 increased 43% to CAD 78.2 million from CAD 54.5 million last year. Gross profit margin was 22.7% compared to 24.1% last year. As expected, we saw gross margin grow by approximately 1% sequentially from Q1 2021, which was a particularly hardware-concentrated quarter. For the six months ended June 30th, gross profit increased 33% to CAD 146 million from CAD 109.7 million in 2020. Gross profit margin for the six months was 22.3% compared to 23.4% over the same period in 2020. The gross margin decrease in the three and six-month periods was due to the impact of recent acquisitions that sold primarily hardware. As we cross-sell higher margin cloud and managed services to customers of recently acquired companies and increase sales to our existing customers as they expand their cloud-based IT infrastructure, we expect gross margins to increase. SG&A for the 3 months ended June 30, 2021, was CAD 57.6 million, increasing from CAD 44.2 million in the same period last year. For the 6 months ended June 30, SG&A was CAD 107.3 million compared to CAD 89.6 million last year. As a percentage of sales, SG&A made up 17% and 16% for the 3 and 6-month periods respectively, compared to 19% for the same periods last year, which reflects the integration savings over the last 12 months, which cumulatively have been over CAD 28 million on an annualized basis. Adjusted EBITDA for the 3 months ended June 30 increased 86% to CAD 21.7 million, compared to Adjusted EBITDA of CAD 11.6 million last year. As a percentage of revenue, Adjusted EBITDA was 6.3% compared to 5.1% last year. For the six months ended June 30th, Adjusted EBITDA increased 80% to CAD 40.5 million from CAD 22.5 million last year, and was 6.2% of revenue compared to 4.8% for 2020. In the near term, our EBITDA percentage reflects the impact of recent acquisitions, which have lower EBITDA margins when we acquire them, but more than double within the first year as we integrate operations and cross-sell managed and cloud services to their customer base. Interest and finance expense for the quarter was CAD 1.7 million, compared to CAD 5.3 million last year. For the six-month period, interest and finance expense was CAD 4.1 million, as compared to CAD 10.8 million last year. These significant savings are a direct result of lower interest costs on our ABL, which, as we announced in Q4 last year, had been switched from a specialty lender to a syndicate of Canadian banks, including CIBC, Scotiabank, and Laurentian, as well as interest savings as a result of us paying off higher non-ABL debt. At the end of the quarter, total cash was CAD 125 million. Total borrowings were CAD 51.2 million, and we had approximately CAD 140 million of borrowing capacity under the ABL. Shaun mentioned, on August 5th, we announced the acquisition of REDNET for approximately EUR 96 million. On a pro forma basis, including REDNET, our borrowing collateral of accounts receivable and inventory far exceeds our current ABL limit, and we will seek to increase our debt lines going forward. Thank you, and I'll pass the call back over to Shaun. Thanks, Matt. It brings me great pleasure to be delivering these quarterly results on today's call. We have always aimed to execute and extend beyond our stated objectives. Our team will do everything in its power to continue doing so. One thing I would like to note above our results for Q2 is that they do not include the revenue or EBITDA of our Vicom Infinity and Infinity Systems Software acquisitions, which were announced at the end of the quarter and will be closing this month. These two businesses generated revenue and Adjusted EBITDA of CAD 54.6 million and CAD 3.9 million, respectively, in Q2. We look forward to including these contributions in future quarters. On our previous earnings calls, I discussed the overwhelming support we secured in the markets over 2020 as a result of our business results, which helped us raise over CAD 100 million in equity through a series of oversubscribed bought-deal financings. Similarly, during the first half of 2021, Converge added an additional CAD 86.5 million at CAD 485 per share and CAD 172.5 million at CAD 750 per share, more than doubling our 2020 efforts. This has added new, valuable institutional investors to the existing Converge shareholder base. It has also been accretive to existing holders growing their positions and has helped advance acquisition capital position us for our European expansion. Converge is an aggressive growth company, and I'm incredibly proud of the fact that our team has delivered ongoing record quarterly results while also delivering a stellar price performance. To have opened the quarter at CAD 5.30 per share and close the quarter at a share price of CAD 10.22 is truly remarkable. We've seen significant upside in Q3 as well, which is extremely gratifying and a validation of our strategy we have believed in passionately since the company's formation. On that note, let me open the floor to questions. Thank you. Ladies and gentlemen, we will now begin the question and answer session. Should you have any questions, please press star followed by the 1 on your touch-tone phone. You will hear a 3-tone prompt acknowledging your request, and your questions will be polled in the order they are received. Should you wish to decline from the polling process, please press star followed by the 2. If you're using a speakerphone, please lift your headset before pressing any keys. 1 moment for your first question. We will now take our first question from Kevin Krishnaratne from Desjardins Securities. Please go ahead. Hey there. Good morning, gentlemen. Good quarter. A lot of moving pieces to think about, FX, M&A. Are you able to provide, even if it's just a rough estimate, what the organic constant currency growth would've been in the quarter? As you noticed, when you do 4 acquisitions in a quarter and you had COVID impacting you last year, those are moving targets. What we try to do is have people focus in on the gross profit% to kind of indicate what the mix growth is. As we say, revenue is probably not the best indicator of our growth, as the higher margin cloud and managed services have a much higher gross profit%. Again, given last year, Q2 was actually weaker than Q1 last year. We had CAD 227 million versus CAD 241 in Q1. This quarter, we had CAD 351 versus CAD 310. You will see, obviously, a much stronger growth this year. Part of that is COVID, and part of it's the strength of the U.S. economy. Okay. Maybe switching more onto the acquisition of Rednet. Congrats on the entry into Europe. When I think about Converge, when you started four years ago, the first platform acquisition there, Corus360, that was a good asset that had the key vendor relationships. It also came with some data centers, disaster recovery. I'm wondering if you can just talk a little bit more about the asset in Rednet, what else you acquire there, any thoughts about the data center strategy there as you start to think about hosting managed services there. I guess I have questions around either the CapEx considerations, as you ramp up there in the region, can you just talk about the hiring plans you may have on key management roles and other employees to support the growth there? Super. We've been making investments in preparation for the Rednet acquisition, but it's a fantastic acquisition. Doris is known by Revizto, the CEO there, for over 30 years. She will be running all of Germany for us. When we do subsequent acquisitions in Germany, they'll all report into the Rednet management team. Rednet is a special asset. What they've been able to do in education is unique in that they have a lot of cloud-based services. During the pandemic, as people know, we let our teachers down, we let our kids down because they just weren't equipped with the tools they needed to do online learning. The German government said, "Okay, we lost a year of learning. We can't let our university students and high school and primary school kids down. They've put EUR 5 billion into digitizing education in Germany. What REDNET's done is they were a leader in this space. They've got over 40% market share in 3 of the federal states that they're in providing cloud-based services for online learning, but also very uniquely, a teacher helpline. They've actually staffed teachers to provide IT support, but also to help those teachers deliver online learning and curriculum, et cetera. This model has been extremely successful. Back to your data center question, we have 11 data centers in North America. We provide more of an OpEx model than a CapEx model in that all of our contracts are usually 3 to 5 years with customers around our managed services. What we'll do is we will lease equipment to make it not a CapEx expense versus an OpEx expense. You'll have seen our CapEx is in the CAD 3 million-CAD 4 million kind of range per year, and that's because we operationalize it as opposed to having it as CapEx. Do those answer your questions, Kevin? That's helpful. Thanks, Shaun. Moving forward as well, onto the M&A that you made in the quarter, you mentioned the Vicom Infinity. I believe that rounded out your IBM product set, correct me if I'm wrong, with adding mainframes. Are you pretty much now able to offer the full spectrum of IBM product? Can you talk about what that acquisition will mean to you in terms of cross-selling? Does that potentially give you opportunities to win slightly bigger deals, just given mainframe versus mid-range? Lastly, can you just give us an update with your standing with IBM? Obviously, you're a lead there with taking home multiple awards, as you highlighted, you've got another private competitor out there that I think historically has had a bit more spend on IBM. Where are you now? You've talked about kind of approaching them, just if you could give us an update post this acquisition? Super. Really pleased about the Vicom Infinity acquisition. It does round out the profile. We were having to use partners to bring in that skill set. It's a very high margin business. It's a chunkier business and really focused on Q2 and Q4, but it's an exceptional part. What it means is that we can fully engage IBM as they move to a much more channel-friendly model, much more like the Red Hat model, which is 80% through the channel. IBM historically has been 15% through the channel. They're really aggressively pursuing channel partners. To their lead partners, and yes, Sirius is still the largest revenue, but I will happily note that we won five awards at the IBM conference, and they won three. We're definitely receiving a lot of accolades for our mid-market penetration. Our business model and our ability to sell in mid-market is unusual. You structure yourself differently. Buying smaller companies who happen to have younger sales forces, which are hunters and not farmers like large enterprise accounts, means that we are really well situated. With Greg Berard's mechanisms of workshops to engage customers, yet we talked about the marketing event, the net new logos, 121 in a quarter is insane. I have to congratulate the team on their outreach. The partners realize that. I've noted in the past that it seems like every one of our partner account managers from the vendors, not just IBM, have either bought a new house or been promoted. That's just a sign of how successful Converge has been in implementing our mid-market strategy. Yes, absolutely, IBM's a really important partner, especially on the software side. Their Cloud Paks with Red Hat, the hybrid IT model, and rounding out the portfolio with Vicom Infinity means that we can engage even further with the IBM team. Perfect. Great. Thanks for taking my questions. I'll pass the line. Thanks, Kevin. Thank you. We will now take our next question from Rob Young from Canaccord. Do you want to please go ahead? The line is open. Hi, good morning. The thing that jumped out at me was that services strength in the quarter, a little ahead where I expected. I was hoping you could add to some of the prepared comments around the strength there, 121 new customers. Is that mostly related to services, and is it market improvement, reopening in the U.S., or would you attribute it more to the go-to market you talked about in the prepared comments? Any other comments there would be really helpful, understanding that strength. Great, Rob. Two comments I'll make is, first, on the general market, we have seen a strengthening, but also the engagement model that we initiate is quite different than most companies. I got to give it to Greg, the marketing team, the way that we do an outreach. I'll also say, having a world-class cybersecurity team, you might have heard about the various ransomware attacks, that when a mid-market company, they get hacked, and they turn to their IT group, and they just don't know what to do. Having that world-class team where we can come in, we can triage a problem, we can see what data's been exposed, and then come up with solutions for securing their data on an ongoing basis. Those become the most loyal of customers. We have unique skill sets into the mid-market. Most people focus in on the large enterprise space, like CGIs or the Accentures, the people with PhD data scientists are quite rare, and world-class cybersecurity groups. Having these skill sets, these mid-market companies are just thrilled to see us when we can bring in these kind of capabilities. We buy companies that are digital infrastructure companies. We transform them into these hybrid managed service providers. Those capabilities, I think, really have helped us. Showing in that net new logos number definitely is an indication of how we're doing. Okay. Lots of great color there. Just a couple more. The choice of Rednet as your entry point into Germany. It seems as though they're really highly exposed to some education spending in Germany. If you could just talk about maybe the near-term opportunity from that and just broadly the choice of Rednet. What qualities make it well-suited to a beachhead in that country? What a prized asset. We competed with 31 private equity companies, and Barbara chose us not because we were the highest bidder, but because she knew she could grow the fastest with us. The fact that she went from CAD 138 million a year last year, it'll be CAD 250 million a year this year, to CAD 350 million next year, all done organically. Even going from EUR 7 million last year to EUR 16 million this year to EUR 24 million next year, organically. That's because of the unique model they have in education. They've got 3- to 5-year contracts in the 3 federated states that they exist in, expanding to 7. We're looking to expand them further through acquisitions to really bring her unique model. We're looking for some of the things they do to cross-pollinate here in North America. We have a great education space up in Canada as well as down in Texas. We're really focusing on that model of cloud-based teaching and infrastructure along with that teacher helpline. The earnings that she has really all come from the services side. Fantastic model, really a prized asset. I could not be more happy to really announce ourselves in Europe and to brand ourselves with such an outstanding company. Okay, great. Last, a modeling question. Maybe ask Kevin's question a different way. The contribution from Dasher and ExactlyIT, once you get through IFRS accounting, sometimes those numbers can shrink a bit, and I was just wondering maybe any guidance around what the contribution was in Q2 to help us model that going forward. On the Vicom Infinity, the CAD 54 million in Q2 relative to CAD 106 million trailing 12 months. I'm trying to understand that big jump from one quarter relative to the trailing 12 months. Those two modeling pieces would be really helpful for me, then I'll pass it on. Yeah, sure. On the first one, realize currency also, when you talk about year-over-year growth, currency had a CAD 35 million impact, Q2 last year versus this year. You had currency and COVID, and therefore, with the acquisitions, it's not necessarily straightforward to do that, but we will come back to you with that. On the second piece. The Vicom Infinity, the CAD 54 million- So sorry. pro forma They are very chunky. These big deals end up happening in Q2 and Q4. You would expect in Q4 to have some very chunky deals. Realize the channel, when you have 350 salespeople that they didn't have before, it means there's just so many more opportunities. This is the magic of Converge. When you buy a company that has capabilities and there's so many more sellers, that's where you're seeing the jump. Even after we had the partnership, we announced to our sellers that they were becoming part of the family. That will have a market impact on them. You wouldn't expect to see a lot in Q3 from them, but you'll definitely see a big jump in Q4. All right. That's more like CAD 108 million run rate versus the CAD 106. Should we just be thinking of Q2 and Q4 as big quarters and then not much? Yep Q1 and Q3? Yep. Okay. Thank you. Thanks, Rob. Thank you. We will now take our next question from Christian Sgro from Eight Capital. Please go ahead. Your line is open. Hey, good morning. Thanks for taking my question. Rednet in Europe is going to be a meaningful revenue contributor going forward. I'm just thinking about the seasonality of both selling into the German public sector. Would they follow an ordinary government spending calendar, or is there anything you'd point out on the Rednet side that way? Yeah. Education tends to be, during the holidays is when they do their biggest implementation. As they move to more of these recurring revenue managed services, it flattens out. July, August, and therefore, the Christmas holidays, Easter holidays, they tend to do implementations in the education sector when the kids aren't in school. From a seasonality perspective, yeah, you would think Q3 and Q4 are quite big. Q1 tends to be a little bit lighter. Thanks, Shaun. That's super helpful. I'll add one more question in Europe, one probably others are waiting to ask. Sort of what's next? With REDNET in Germany and some of the operations already existing in Europe, what sort of asset, when you think about the landscape now, would be complementary in terms of geography or strategy? Yeah. We're an aggressive growth company, and you should not be surprised that we'll be pursuing other acquisitions in Germany to expand to other federated states. I think REDNET has very clearly demonstrated leadership in the education sector. The quicker we can gain them presence, feet on the street in all those federated states, the quicker they can grow. That growth that we've announced is not with synergy. That's without the Converge effect. We will absolutely look to aggressively grow there. Also, we've been very clear that the U.K. market is a highly attractive market. We'll be looking to add a platform acquisition in the U.K. followed on by tuck-ins there. The priority is, it's easier and more quick to close more of those quote unquote "tuck-in acquisitions" which expand geography, than it is for the platform. RedNet, we worked on for a very long time. Thrilled with it. It might take a little longer to do the platform one in the U.K., but, as you know, we bought four companies in Q2. We're an aggressive growth company, and yes, we'll be absolutely looking to expand in Europe. That's very helpful. I'm just going to ask one more on the modeling side for myself as well. As we think about the cash build into the back half of the year, could you talk about sources and uses of working capital, things to think about into Q3, Q4? The acquisition of Vicom on December 31st kind of changed our balance sheet in that we hadn't had the opportunity to transform their payment terms. The free cash flow numbers you would've seen in Q4 and Q1 because of acquisitions, it hadn't worked its way through the system. We showed, I think, over CAD 22 million of free cash flow in Q2, and you would expect that number to increase, especially since, because of chip shortages, we've had to build inventory levels to support customers to secure supply. As that normalizes, you'll see a much more normalized supply chain, and therefore impacting our free cash flow. This is an incredibly cash flow-focused company. We generate great cash. Working capital is a source of funds, not a use of funds. You'll see that trend increase and continue in Q3 and Q4. That's great color, Shaun. Thanks for taking my questions. Thanks, Christian. Thank you. We will now take our next question from Rob Goff from Echelon. Please go ahead. Good morning, and thank you for taking my question. Actually, 2 questions if I might. Could you talk about the pacings of software renewals within the quarter? As a second question, could you talk to some of your expectations for exit rate revenues on the managed services? Absolutely. You're absolutely right. When you do software renewals, usually they're multi-year deals. You'll see them come, like last year, Q2, we had a lot that were two-year deals. You'll see them again next year. Probably wasn't as high on the software subscriptions, but you'll definitely see those increase especially in Q4. Exit rate Exit rate. Yeah, we're still targeting CAD 100 million of managed services recurring revenue by the end of this year. One of the leading indicators of managed services revenue is our services revenue. When you do an onboarding of a customer, you need to transform them from their existing state into our data centers, to provide that managed services. That's a 3 to 6-month timeframe. When you see our services numbers grow, that's usually a good leading indicator of what more managed services and recurring revenue are coming, and we're comfortable with that. CAD 100 million on an annualized basis in Q4 is still our target. Cool. If I may, just one more in. You've talked about the new logos. Could you talk to the revenue traction build associated with adding a new logo? When you go in and provide a hybrid IT solution, we start with Red Hat and VMware. They're not huge revenue generators, but what they allow you to do is be in the room and be the advocate when the customer is deciding of where to put those workloads. Do they go onto the public cloud, and Microsoft Azure is the best one for Windows workloads and front office applications, GCP and AWS are better for back office and Unix ones, or does it go in our managed service if it needs to be customized to your data center? Unless you're in the room, if you're just talking to the infrastructure people, that decision's already been made that it's going on-prem. That's why these net new logos, especially leading with Red Hat and VMware, is so important to get us in front of the application people. These net new logos, and whether it be from the security side or the Red Hat and VMware side, to get in front of those people, really helps us to grow that cloud and managed services business. That's the key part of the strategy. Thank you. Thank you. Ladies and gentlemen, as a reminder, if you would like to ask a question, please press star one. There are no further questions at this time. Please proceed. Thank you to everyone for participating on today's call. It has been my pleasure updating you on the undeniable momentum that has carried us into yet another successful quarter. I look forward to updating our shareholders again when we announce our Q3 results, and thank you for your continued support. Ladies and gentlemen, this concludes your conference call for today. We thank you for participating and ask you to please disconnect your lines. Have a great day.