Thursday, February 13, 2003
Black Box Corporation Merges with Rowe Structured Cabling Ltd.
Black Box Corporation (NASDAQ:BBOX) announced today that it has merged with Rowe Structured Cabling Ltd., located in Southampton England. Privately held Rowe provides technical design, installation and maintenance services for premise cabling and related products to their clients. Annual revenues of Rowe are approximately $1 million.
Commenting on the merger, Leslie M. Fernandes, Regional General Manager of Black Box UK and Ireland, said, “This merger continues to expand our profitable market presence in the UK. We will integrate Rowe’s key personnel and associated clients into our existing Black Box Network Services office in Newbury. This will enable us to increase revenues while leveraging our current operating expenses.”
Derek J. Grant, Managing Director of Black Box Network Services Newbury, added, “This merger brings to Black Box a number of important UK clients including a large European insurance company and a worldwide consumer goods company. And we will now be able to cross-sell to our newest clients the complete line of Black Box technical services.”
This transaction is being accounted for as a purchase. The purchase price has not been disclosed.
Black Box is the world’s largest technical services company dedicated to designing, building and maintaining today’s complicated network infrastructure systems. Black Box services clients through 117 offices in 132 countries throughout the world.
Black Box Corporation