AGC Networks completes acquisition of Black Box Corporation
Jan 9th, 2019
“#AGCNetworks have completed the acquisition of #BlackBoxCorporation, a leading digital solutions provider in the US. The combined entity has 4000+ people & a footprint in 25+ countries substantially increasing in our presence across America, Europe & Asia. https://t.co/YZgFARW8eU”
- Helps AGC strengthen presence and offerings in North America, Latin America, Europe and Asia
- Combined entity to have revenues of US$750 million, over 4,000 people and a footprint in 25+ countries across six continents
Mumbai, India, 09 January 2019: AGC Networks Limited, (BSE: 500463 and NSE: AGCNET), the trusted go-to-technology-solution-integrator, today announced that its wholly-owned subsidiary has completed the acquisition of Black Box Corporation (NASDAQ: BBOX), a leading digital solutions provider in the US.
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.
“We are excited to have Black Box become part of the AGC family,” said Mr. Sanjeev Verma, Executive Director & CEO of AGC Networks, and President & CEO of Black Box Corporation. “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 our clients, vendors and global team members. We strongly believe in the philosophy of think globally (as our clients do), but act locally where our relationships exist. Our expanding local presence will be among our defining strengths and “Think Globally, Act Locally” will be the cornerstone of our vision as we move forward.
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.
Mr. Deepak Kumar Bansal, Chief Financial Officer, AGC Networks, said “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.”
About AGC Networks
AGC Networks (AGC) is a Global Solution Integrator representing the world’s best brands in Unified Communications, Data Centre & Edge IT, Cyber Security (CYBER-i), and Digital Transformation & Applications to evolve the customer’s digital landscape. AGC’s ability to tailor solutions across quadrants is strengthened through delivery of seamless customer support services.
AGC is the customers’ trusted go-to technology solution integrator to architect, deploy, manage and secure their IT environment through customized solutions and services that accelerate their business.
A leader in Enterprise Communications in India, AGC has significant presence across 25+ countries, including North America, Europe, Middle East, Africa, Singapore, Australia, New Zealand and the Philippines, serving over 4,000 customers.
In collaboration with global technology leaders, like Avaya, McAfee, Palo Alto, Cisco, HPE, Trend Micro, Juniper, Nutanix, NICE, Verint, Polycom, Genesys and Mitel among others, AGC delivers domain-focused, flexible and customized technology solutions, and seamless services that accelerate customers’ business and ensures Return on Technology Investments (ROTI). AGC Networks is an Essar Enterprise. For more information, log on to www.agcnetworks.com
Neelam Kapoor (Global) Tel: +91 98197 30611 E-mail: email@example.com
Mike Carney (US) Tel: +1 214 258 1612 E-mail: firstname.lastname@example.org
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