AGC Networks' acquisition of Black Box Corporation completes
By MYBRANDBOOK
AGC Networks has announced that its wholly-owned subsidiary has finalized the acquisition of Black Box Corporation.
The combination with Black Box will substantially strengthen AGC’s presence and offerings to 25+ countries across six continents. The acquisition will also help add US$600 million to AGC’s revenue, taking the company’s combined revenue to over US$750 million, and global headcount to more than 4,000 people serving clients worldwide.
Sanjeev Verma, Executive Director & CEO, AGC Networks, and President & CEO, Black Box Corporation, says, “We are excited to have Black Box become part of the AGC family. Black Box’s skilled teams and strong client relations with world-class enterprises and partners will allow us to better serve our global clients. In the immediate term, Black Box and its subsidiaries will continue to operate as is. The two companies will together create a unique organization that has the scale to deliver worldwide technical solutions to the largest and most complex corporations.”
A concrete benefit of this acquisition is the diversity of offerings, markets and clients between the two companies, with little overlap. This diversity presents tremendous opportunities for clients, vendors and global team members. They strongly believe in the philosophy of think globally but act locally where their relationships exist.
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. This will result in Black Box Corporation becoming a 100% subsidiary of AGC.
Deepak Kumar Bansal, Chief Financial Officer, AGC Networks, comments, “Adherence to financial discipline, governance and compliance standards is the highest priority across all theatres and geographies that AGC operates in. Along with these measures, rationalization of working capital availability and sustained focus on cash flow management will ensure smoother and quicker turnaround for business operations delivering value to customers, stakeholders and shareholders.”
InterGlobe’s Rahul Bhatia and C.P. Gurnani together announce
In a move that is set to transform the AI landscape, Rahul Bhatia, Group M...
Download masked Aadhaar to improve privacy
Download a masked Aadhaar from UIDAI to improve privacy. Select masking w...
Sterlite Technologies' Rs 145 crore claim against BSNL rejecte
An arbitrator has rejected broadband technology company Sterlite Technolog...
ID-REDACT® ensures full compliance with the DPDP Act for Indi
Data Safeguard India Pvt Ltd, a wholly-owned subsidiary of Data Safeguard ...
TALLY SOLUTIONS PVT. LTD.
SAMRIDDHI AUTOMATIONS PVT. LTD.
CENTRE FOR DEVELOPMENT OF TELEMATICS
GLOBUS INFOCOM LTD.
Technology Icons Of India 2023: B.V.R. Subrahmanyam
B.V.R. Subrahmanyam belongs to Andhra Pradesh. He is a 1987-batch IAS ...
Technology Icons Of India 2023: Rajendra Singh Pawar
Rajendra Singh Pawar is an entrepreneur and businessperson who founded...
Technology Icons Of India 2023: Anil Kumar Aggarwal
Anil Agarwal is an Indian billionaire businessman who is the founder a...
DRDO is India's largest and most diverse research organisation
DRDO is the R&D wing of Ministry of Defence, Govt of India, with a vis...
STPI encouraging software exports from India
Software Technology Parks of India (STPI) is an S&T organization under...
ITI Limited widening its focus area
ITI Limited is a public sector undertaking company, has manufacturing ...
TECHNOBIND SOLUTIONS PVT. LTD.
TechnoBind’s business model is focused on identifying and partnering...
RAH INFOTECH
RAH Infotech is India’s fastest growing technology value added dist...
INGRAM MICRO INDIA PVT. LTD.
Ingram Micro India, a large national distributor offers a comprehensiv...