Essar Group company Black Box Ltd said Thursday it has struck a deal to acquire Brazilian IT infrastructure solutions aggregator 2S Inovações Tecnológicas (2S) to expand its presence in South America.
Mumbai-listed Black Box, an IT infrastructure solutions provider, said it will buy 2S for Rs 275 crore ($30.3 million) in cash payable at closing. The transaction is likely to close by the end of March.
The deal also includes additional deferred payments including earn-outs linked to performance over the next two years, Black Box said in a stock-exchange filing, without specifying the amount.
The Indian company said the acquisition will help in strengthening its end-to-end service portfolio. It will also accelerate growth in Black Box’s high-value managed and recurring services, including its data centre and cloud solutions, enterprise networks, cybersecurity and network protection, to name a few.
The Brazilian company employs about 230 people and clocked revenue of $53 million as per Brazilian GAAP for the year ended December 2024, up from $50 million the year before.
Black Box also said the transaction is aligned with its global strategic plan to achieve $2 billion in annual revenue by 2030. Its revenue for the nine months through December 2025 was Rs 4,631 crore ($511 million).
In a separate transaction, financial services conglomerate Choice International has acquired a 51% stake in digital advisory platform Fintoo Wealth Pvt Ltd for around Rs 10 crore.
The acquisition will enable Choice International to enhance digital capabilities, expand its customer base and help in cross-selling services, the company said.
Fintoo Wealth has an annual turnover of Rs 25 lakh and provides services for planning across retirement, investment, debt management, tax, legacy, inheritance, insurance and emergencies.
