AGC Networks To Acquire Fujisoft in Middle East

- Proposed acquisition is subject to approval from Department of Economic Development in Dubai and from Abu Dhabi Department of Economic Development for the company in Abu Dhabi

MUMBAI, India, DALLAS and PITTSBURGH, May 31, 2020 /PRNewswire/ -- (BSE: 500463 ) and (NSE: AGCNET), a Global Solutions Integrator today announced that it will be acquiring Fujisoft (along with its associated companies in UAE) through its indirect subsidiary - Black Box Holdings LimitedCayman Islands. Fujisoft is a technology company committed to bringing the best possible technology solutions to customers in the region. The proposed acquisition is subject to approval from the Department of Economic Development in Dubai and from Abu Dhabi Department of Economic Development for the company in Abu Dhabi.

The acquisition of Fujisoft will substantially increase and strengthen AGC's presence and offerings in the MEA region. This will also enhance the current solution portfolio of AGC and Black Box across Cloud Computing & Virtualization, Cyber Security, Managed SoC & NoC, Managed Services, Data Center and Collaboration solutions.

"We are excited to welcome Fujisoft team members as part of the AGC family," said Sanjeev Verma, Executive Director and CEO of AGC Networks and President and CEO of Black Box Corporation. "This acquisition accelerates our expansion in MEA region. In our pursuit to remain the customer's trusted partner in providing technology solutions and services, the combination of Fujisoft and AGC will strengthen our relationship and relevance with our combined customers in the region." Verma continued.

Albert Raj, Managing Director, Fujisoft said "This acquisition is a logical next step that creates substantial value for customers and stakeholders of both AGC and Fujisoft. It will truly benefit customers and business partners through expanded product portfolio and service excellence in the Middle East region and beyond."

Deepak Kumar Bansal, Chief Financial Officer, AGC Networks said "Bringing Fujisoft under the umbrella of AGC Networks will surely enable customers to garner the cross leverage across AGC and Black Box solution offerings and services support base in the region."

Rohit Himatsingka, Vice President & Head Corporate Development & Strategy, AGC Networks said "Operating within the restrictive parameters of Work from Home during the current COVID times and under the new normal, this challenging and unique acquisition by AGC is in the wake of our focused approach on continuing to be at the forefront to offer the best technology solutions and services in the various markets that we operate in."

About AGC Networks:

AGC is a Global Solution Integrator representing the world's best brands in Unified Communications, Data Center & Edge IT, Cyber Security (CYBER-i), Digital Transformation & Applications including SimpleEdge and Technology Product Solutions (TPS).

About Fujisoft:

Established in Dubai, UAE as an Information Technology Solutions and Service provider, Fujisoft specializes in innovative IT solutions such as Information Security, Communication & Collaboration, Managed Services, Security, Virtualization and Datacentre.

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