Essar group company AGC Networks has completed the acquisition of US-based digital solutions provider Black Box Corp, a move that will help the Indian firm strengthen its offerings in North America, Latin America, Europe and Asia.
In November 2018, the technology solutions integrator had announced its plans to acquire Black Box for about $16.6 million (₹121 crore) in cash.
The deal with Black Box will substantially boost AGC’s offerings and expand its presence to more than 25 countries across six continents.
The acquisition 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 clients worldwide, the company said in a statement.
“In the immediate term, Black Box and its subsidiaries will continue to operate as is. The two companies will together create a unique organisation that has the scale to deliver worldwide technical solutions to the largest and most complex corporations,” said Sanjeev Verma, Executive Director and CEO, AGC Networks, and President and CEO, Black Box.
As a result of the earlier tender offer and the subsequent merger, Black Box will become a private company and a wholly-owned subsidiary of AGC.