AGC Networks acquires Z Services HQ; makes new 52-week high

AGC Networks, an IT service management company, announced this afternoon that it has acquired a major stake in Z Services HQ DMCC in the Middle East region through its indirect subsidiary, Black Box Holdings Cayman Islands.   

The acquired company Z Services HQ is a provider of cybersecurity cloud services, secure access service edge (SASE), unified cloud security, e-mail cloud security/archiving, cloud access security broker (CASB), secure public Wifi cloud services, cybersecurity awareness cloud services, endpoint detection, and response cloud services combined with service implementation and digital transformation professional services.  

This acquisition will enable the company to strengthen its presence in the Middle East region and add cloud cybersecurity services capabilities to offer a wide range of services to its customers. It will also help create value for both AGC Black Box and Z Services HQ. The acquisition is an extension to the company’s existing offering of cybersecurity and is aligned with its strategy of acquiring businesses that provide an opportunity to expand through scale and is complementary to its existing business.  

At 3.43 pm today, the share price of AGC Networks Ltd stood at Rs 1,536.90, an increase of 5 per cent over its previous day’s close of Rs 1,463.75 on BSE.