Biznextindia : Black Box Holdings limited, an indirect wholly-owned subsidiary of AGC Networks Ltd has entered into a share sale agreement with Z services Holdings Ltd, a BVI business company incorporated in the British Virgin Islands to acquire 76% of shares of Z Services HQ DMCC for total consideration of approx. USD 3.94 million.
Z Services HQ DMCC is a limited liability company incorporated in under laws of Dubai Multi Commodities Centre. The company is engaged in the business of providing services in relation to cloud cyber security architecture that includes Web, Email, Cloud Application, Unified Access Management, Cyber Forensic, Security Operation Center, Incident Response and Risk Cyber Security.
The company had reported a consolidated Revenue of USD 7.24 million in the FY 2020 (12 months ending Dec 2020).
The acquisition will help AGC to strengthen its presence in the Middle East region and also add cloud cybersecurity capabilities to offer wider range of services to its customers.