Black Box Corporation is now a Wholly-Owned Subsidiary of AGC Networks
AGC Networks, a trusted technology-solution-integrator announces its acquisition of Black Box Corporation, a leading digital solutions provider in the U.S. The acquisition will help AGC to fuel its presence and offerings in North America, Latin America, Europe and Asia. It will also 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 the clients.
Sanjeev Verma, Executive Director & CEO, AGC Networks, and President & CEO, Black Box Corporation, says, “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”.
Benefits of this acquisition include diversity of offerings, markets and clients between the two companies, with little overlap. Also, the expansion will define the strengths and their motto being ‘Think Globally, Act Locally’, it helps them move forward. Black Box Corporation will now be a private company and shares of common stock will no longer be publicly traded, making them a 100 percent subsidiary of AGC Networks.
Commenting on the acquisition, Deepak Kumar Bansal, CFO, AGC Networks, “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”.
With an aim to represent the world’s best brands in Unified Communication Data Centre & Edge IT, Cyber Security (CYBER-i) and Digital Transformation & Applications to improve customer’s digital landscape, AGC architects, deploys, manages and secures IT environment through customized solutions and services that accelerate their business. Founded in 1986, it delivers domain-focused, flexible and customized technology solutions and seamless services that accelerate customer’s business and ensures Return on Technology Investments (ROTI).
Read More News: