Black Box rises as its arm inks pact to acquire 100% stake in Global Speech Networks!

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

Acquisition of Global Speech Networks 

Black Box’s indirect wholly owned subsidiary - Black Box Technologies Australia has entered into a Share Purchase Agreement with Rhomax (Seller 1), Nafeld (Seller 2), Feldhed (Seller 3), Peter Thomas Brannighan and Leonie Gaye Brannighan (Seller 4), and JLF Management Consultants (Seller 5) on May 17 , 2023, to acquire 100% of shares of Global Speech Networks (Target Company being limited liability company incorporated under laws of Australia), for total consideration of around AUD 2.5 million subject to working capital adjustments at closing.  

Global Speech Networks is in 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 the ANZ region This will also give rise to an opportunity to cross-sell to the current customers.     

Share price movement of Black Box Limited      

Today, the stock opened at Rs 139.85, with a high and low of Rs 141.85 and Rs 139.85. Currently, the stock is trading at Rs 139.95, up by 0.76%. The stock has a 52-week high of Rs 187 and a 52-week low of Rs 84.40.           

Company profile       

Black Box is a trusted IT solutions provider delivering cutting-edge technology solutions and world-class consulting services to businesses around the globe.