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 AGCâ€™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 AGCâ€™s revenue, taking the companyâ€™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.