India's AGC Networks surges; unit to buy Black Box Corp

Black Box

12/11/2018 06:18

** Shares of information and communication technology
provider AGC Networks Ltd  AGCN.NS  rise as much as 16.7 pct to
74.80 rupees in their biggest intraday pct gain since December
2017
    ** AGC says its Singapore unit will buy Nasdaq-listed IT
infrastructure services provider Black Box Corp  BBOX.O  for
$16.6 mln in cash  urn:newsml:reuters.com:*:nASB00WGA
    ** Deal is expected to add over $600 mln in annual revenue
for AGC
    ** AGC shares rise to their highest since Sept. 27
    ** About 16,300 shares change hands, vs the 30-day moving
avg of 9,969 shares
    ** Stock down 49.96 pct this year as of last close

 ((Reuters Messaging:
ramavenkat.raman.thomsonreuters.com@reuters.net))