AGC Networks completes Black Box Corp's acquisition

Last Updated: Thu, Jan 10, 2019 11:56 hrs
AGC Networks Logo (Image Courtesy: AGC Networks)

Mumbai: Global technology solution integrator AGC Networks on Wednesday announced that its wholly-owned subsidiary has completed the acquisition of US-based digital solutions provider Black Box Corporation.

According to the firm, the combination with Black Box will substantially strengthen AGC's presence and offerings to more than 25 countries across six continents.

Besides, the acquisition will help add $600 million to AGC's revenue, taking the company's combined revenue to over $750 million, and global headcount to more than 4,000 people serving clients worldwide.

"A concrete benefit of this acquisition is the diversity of offerings, markets and clients between the two companies, with little overlap," the company said in a statement.

"This diversity presents tremendous opportunities for our clients, vendors and global team members. We strongly believe in the philosophy of think globally, but act locally where our relationships exist."

As per the statement, as a result of the earlier tender offer and the subsequent merger, which were completed, Black Box Corporation will become a private company and its shares of common stock will no longer be publicly traded.

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