AGC Networks, provider of IT infrastructure and data centre services from Essar Group, through its US subsidiary will be acquiring US-based Transcend United Technologies (TUT). The board of AGC Networks has approved the acquisition of the company. Financial details of transaction were not disclosed.
The company is focused on unified communications, data center infrastructure and managed services and reported annual revenue of $43 million and an employee base on 130 people. Transcend has presence across east coast, Mid-West and Central US
AGC Networks is acquiring the company through its US subsidiary. The acquisition will fit in AGC's strategy, as the company has been planning to expand its foot-print in the US. AGC reported revenue of Rs 248.7 crore for the quarter ended December 31, 2012.
AGC Networks, listed on the Indian bourse's was acquired by Aegis, the BPO arm from Essar Group in 2010.
