The company made the announcement during trading hours today, 19 March 2013.

Meanwhile, the S&P BSE Sensex was down 197.17 points or 1.02% at 19,096.03.

On BSE, 3,035 shares were traded in the counter as against average daily volume of 6,976 shares in the past one quarter.

The stock hit a high of Rs 129.65 and a low of Rs 124 so far during the day. The stock had hit a 52-week high of Rs 235.90 on 14 January 2013. The stock had hit a 52-week low of Rs 71.50 on 20 March 2012.

The small-cap company has equity capital of Rs 28.47 crore. Face value per share is Rs 10.

Transcend United Technologies LLC (Transcend) provides global IT systems integration focused on Unified Communications, Data Center Infrastructure and Managed Services having annualized revenues of approximately $43 million and 130 employees, AGC Networks said in a statement.

AGC Networks said that the acquisition of Transcend is in line with AGC's growth strategy. The acquisition of business of Transcend positively impacts solution offerings, newer alliances and prominent inroads in the large US market, AGC Networks said. It represents a strategic opportunity for AGC and Transcend to combine their respective strengths in innovation, technology and customer experience to offer clients the industry's leading suite of technology solutions, the company added. Together, AGC and the business of Transcend will provide clients with intelligent solutions that address the growing need for unified technology systems in enterprise organizations spanning multiple industries, AGC Networks said in a statement.

The Transcend business will operate under the AGC Networks brand, and will be led by Greg Forrest, President, Americas. Commenting on this acquisition, Greg Forrest said, "We are delighted to welcome our employees from Transcend, who will continue operations from their current offices providing clients with enhanced technology solutions. AGC conducted a diligent search to acquire a technology solutions provider that aligned not only with our organization's focus on developing the most innovative technology solutions, but also with our commitment to providing an exemplary customer experience. Through the combined business, we plan to leverage the business of Transcend's portfolio of specialized services to offer greater depth of technology solutions to a broader audience in North America. Additionally, the acquisition of the business of Transcend further enhances AGC's value proposition to 'Enable Experience' for our customers".

Commenting on the acquisition, S K Jha, Managing Director & CEO at AGC Networks said, "AGC Networks has built a strong reputation as a leading global technology solutions integrator providing innovative technology in unified communications, data center & virtualization, networking and enterprise applications. This acquisition will equip us to leverage Transcend's strong expertise and customer base. Furthermore, the on boarded clients will benefit from AGC's seamless technology solutions delivered across the globe and AGC's clients benefit from Transcend's technology alliances in North America".

Sanjeev Verma, President, Global Sales and Business Operations, AGC Networks said, "Transcend's core competencies' in Unified Communications and Data Center Infrastructure, together with the global presence of AGC, positions us as a leader in this rapidly growing space".

Rick Hirsh, CEO of Transcend said, "This is a big win for our customers, “Our ongoing initiatives to provide best-in-class solutions with the highest level of customer service are now augmented by the depth and commitment of the AGC team. Customers will benefit by having even greater access to solutions that provide a competitive edge in today's rapidly evolving business climate".

Transcend United Technologies, headquartered in Philadelphia, is a leading national services provider and technology integrator focused on unified communications and data center infrastructure. Transcend maintains offices in Minnesota, Texas, California, Ohio, Florida, Massachusetts, Illinois, Connecticut, New York, Nebraska, North Carolina, Tennessee and India, and supports over 1,500 customers.

AGC Networks' consolidated net profit declined 23.8% to Rs 13.88 crore on 3.3% growth in net sales to Rs 248.64 crore in Q3 December 2012 over Q3 December 2011.

AGC Networks is one of the leading provider of communication systems, applications and services. With business office in Las Colinas, Texas, Dallas' technology center, AGC Networks utilizes deep subject expertise, global resources, experience and agility to deliver innovative Enterprise cost management and increased service levels to internal and external stakeholders.