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.
Z Services HQ is is a Cyber security 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, End point 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."
Shares of AGC Networks Limited was last trading in BSE at Rs.1536.9 as compared to the previous close of Rs. 1463.75. The total number of shares traded during the day was 976 in over 35 trades.
The stock hit an intraday high of Rs. 1536.9 and intraday low of 1500. The net turnover during the day was Rs. 1498155.