AGC Networks announced that Black Box Holdings, Indirect Wholly-Owned Subsidiary of AGC Networks, has entered into a Share Sale Agreement with Z Services Holding, a BVI business company incorporated in the British Virgin Islands on 11 March 2021, to acquire 76% of shares of Z Services HQ DMCC (Target Company being limited liability company incorporated under laws of Dubai Multi Commodities Center), for total consideration of approx. USD 3.94 million, payable at the time of closing.
The said acquisition is anticipated to be completed within 60 days of signing the share purchase agreement.
The said acquisition of Target Company will help AGC to strengthen presence in Middle East region and also add cloud cybersecurity capabilities to offer wider range of services to its customers.
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