“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.
The stock of IT consulting and software firm has a strong run-up, zooming more than 92 per cent in past one month from level of Rs 60.20. In comparison, the S&P BSE Sensex was up 3 per cent during the same period.
AGC Networks is a Global Solution Integrator representing the world’s best brands in unified communications, data center & edge IT, cybersecurity (CYBER-i) and digital transformation & applications to evolve the customer’s digital landscape.
The company had reported a robust seven-fold jump in its consolidated net profit at Rs 16.76 crore during the first half (April-September) of the financial year 2018-19 (H1FY19). It posted a profit of Rs 2.39 crore during the same period last fiscal. Revenue grew 16.7 per cent to Rs 385 crore on YoY basis.
Till 01:45 pm; a combined 73,037 equity shares changed hands on the counter. There were pending buy orders for 21,700 shares on the BSE and NSE, the exchange data shows.