Approx. AUD 3.72 million payable at the time of closing and AUD 3.72 million in next 3 years from closing in the form of earn-out for purchase of 100% equity; said company in a regulatory filing.
Accordingly, Dragonfly Technologies is into the business of providing Cyber Security Solutions, Enterprise Networking Solutions and Automation & Consulting services.
The said acquisition is anticipated to be completed within 90 days of signing the share purchase agreement subject to approvals from Foreign Investment Review Board (FIRB).
This acquisition will help the Company to strengthen its presence in Australia and also add cybersecurity capabilities to offer wider range of services to our customers.
This will also give rise to an opportunity to cross sell to the current customers.
At around 9:25 AM, AGC Networks was trading at Rs1,219.15 apiece up by 5% on Sensex.