Black Box Ltd's Australian arm to acquire Global Speech Networks Pty Ltd

Black Box Technologies Australia Pty Limited (hereinafter referred to as "Acquirer" or "Black Box"), Indirect Wholly-Owned Subsidiary of Black Box Limited ("the Company") (formerly known as AGC Networks Limited), has entered into a Share Purchase Agreement with Rhomax Pty. Ltd. (Seller 1), Nafeld Pty. Ltd. (Seller 2), Feldhed Pty. Ltd. (Seller 3), Peter Thomas Brannighan and Leonie Gaye Brannighan (Seller 4), and JLF Management Consultants Pty Ltd (Seller 5) (collectively referred to as "Sellers") on May 17 , 2023, to acquire 100% of shares of Global Speech Networks Pty Ltd ("Target Company being limited liability company incorporated under laws of Australia ("Australian Laws"), for total consideration of approx. AUD 2.5 Million subject to working capital adjustments at closing.

Global Speech Networks Pty Ltd is into the business of providing design, configuration, implementation, integration and ongoing service & support services for the GSN Genesys Engage and the Genesys Cloud contact center solutions.

The said acquisition is anticipated to be completed within 60 days of signing the share purchase agreement.

The said acquisition of Target Company will help the Company to strengthen its presence in Australia and also add Genesys capability to its services in ANZ region This will also give rise to an opportunity to cross sell to the current customers.

Source : Equity Bulls

Keywords

BlackBox Australia Subsidiary Acquisition GlobalSpeechNetworks