AGC Networks forays into Cloud Cyber Security business; stock ends 5% higher

The IT company completes the acquisition of Z Services HQ DMCC in the Middle East region.

Apr 07, 2021 03:04 IST India Infoline News Service

Acquisition Concept
AGC Networks Limited (AGC) has completed the acquisition of a majority stake in Z Services HQ DMCC, UAE (Z Services HQ) through its indirect subsidiary – Black Box Holdings Cayman Islands.

The company said in a regulatory filing on Wednesday that Z Services HQ is a Cybersecurity cloud services provider, offering Secure Access Service Edge (SASE), Unified Cloud security, Email Cloud Security / Archiving, Cloud Access Security Broker (CASB), Secure Public Wifi Cloud Services, Cyber Security Awareness Cloud Services, Endpoint detection and response cloud services, combined with service implementation and digital transformation professional services.

The acquisition will help to strengthen presence in the Middle East region and add cloud Cybersecurity services capabilities to offer a wide range of services to customers. This also gives an opportunity to cross sell between current customers of AGC Black Box and Z Services HQ.

Commenting on the Acquisition of Z Services HQ, Sanjeev Verma, Whole-time Director, AGC Networks said, “We welcome Z Services HQ to the AGC Black Box family. The acquisition is an extension to our existing offering of Cyber Security and is in line with our strategy to acquire businesses that provide an opportunity to expand through scale and is complementary to our existing business.

We remain committed to be the trusted partners of our customers while fulfilling their requirements with our technological solutions.”

Nidal Taha, Founder, Z Services HQ DMCC said, “The acquisition will help create value for both AGC Black Box and Z Services HQ. Our expertise in the cloud cyber security business in the Middle East combined with AGC Black Box global presence and massive technical resources will enable us to enhance our leading cloud security services offering by adding a fully managed advanced cloud based SOC service, SOAR, EDR and dark web threat detection and protection. The acquisition will enable Z Services HQ to become the first of its kind MSSP in the region, addressing both the enterprise as well as the mass SME market segments.

This acquisition offers our region’s partners and customers the first of its kind Pay-as-you-Go (PAYG) cloud security services. We look forward to integrating with AGC Black Box and being part of a Global Organization offering an enhanced portfolio of solution to our customers in the region.”

AGC Networks Ltd trade on Wednesday ended at Rs1,536.90 per piece up by Rs73.15 or 5% from its previous closing of Rs1,463.75 per piece on the BSE.

Related Story

Open Free Demat Account (Rs699)