AGC Networks completes acquisition of Black Box Corp; stock rises 10%

The stock locked in upper circuit of 10% at Rs 115, rallied 92% in past one month, as compared to 3% rise in the S&P BSE Sensex.

Shares of AGC Networks locked in upper circuit of 10 per cent at Rs 115 on BSE after the company announced that its wholly-owned subsidiary has completed the acquisition of Black Box Corporation, a leading digital solutions provider in the US.

“The combination with Black Box will substantially strengthen AGC’s presence and offerings in North America, Latin America, Europe and Asia. 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,” AGC Networks said in a press release.