AGC Networks, a global technology solutions provider announced that its  indirect wholly-owned subsidiary Black Box Technologies Australia Pty has entered into a Share Purchase agreement (SPA) with KAK Nominees Pty, Cylaiako Nominees Pty and CTA Consulting Pty, to acquire 100% of shares of Dragonfly Technologies Pty, for total consideration of approximately Australian Dollar 7.43 million, payable 50% at the time of closing and remaining 50% on performance based earn-outs over a period of 3 years from closing.

Dragonfly Technologies Pty is into the business of providing Cyber Security Solutions, Enterprise Networking Solutions and Automation & Consulting services. The said acquisition is anticipated to be completed within 90 days of signing the share purchase agreement subject to approvals from Foreign Investment Review Board (FIRB).

Shares of the company gained Rs 58.05, or 5%, to trade at  Rs 1,219.15.  The total volume of shares traded  was  1,778 at the BSE (11.35 a.m., Monday).