Company subsidiary completed the acquisition of Black Box Corporation.
Shares of AGC Networks surged 8.5 percent intraday Thursday after company subsidiary 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 to 25 plus countries across six continents, company said in release.
The acquisition will also help add USD 600 million to AGC’s revenue, taking the company’s combined revenue to over USD750 million, and global headcount to more than 4,000 people serving clients worldwide, it added.
At 09:38 hrs AGC Networks was quoting at Rs 112, up Rs 7.25, or 6.92 percent on the BSE.
The share touched its 52-week high Rs 142 and 52-week low Rs 46 on 31 May, 2018 and 29 October, 2018, respectively.
Currently, it is trading 21.13 percent below its 52-week high and 143.48 percent above its 52-week low.
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