Essar group company AGC Networks Ltd has acquired Pyrios, an Australia- and New Zealand-based communications technology firm that provides customer engagement and workplace collaboration solutions. The acquisition was originally announced in June. At the time, AGC said Black Box Australia would pay US$800,000 (around Rs 5.99 crore) for fully acquiring Pyrios Australia.
The deal has structured in such a manner, Black Box New Zealand would pay US$1.95 million for Pyrios’ local arm. It would pay US$700,000 at the time of closing the acquisition, US$750,000 after six months and the remaining after 18 month. This move will strengthen AGC Networks, its presence and offerings in Australia and New Zealand. The acquisition will also enhance its portfolio of solutions in the unified communications and contact centre spaces.
“Our pursuit is to remain the customer’s trusted partner in providing technology solutions and services and this combination of Pyrios and AGC/Black Box will strengthen our relationship and relevance with our combined customers in the region,” AGC Networks executive director and chief executive officer Sanjeev Verma said.
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