Black Box Limited on Tuesday said its step-down subsidiary, Black Box do Brasil Indústria e Comércio LTDA, has entered into a definitive agreement to acquire 100% stake in 2S Inovações Tecnológicas (2S), a leading Brazilian IT solutions integrator, for a total consideration of around ₹275 crore.
The deal consideration will be paid in cash at closing, subject to working capital adjustments, and will also include additional deferred payments and earn-outs linked to the performance of the acquired business over the next two years. The transaction is expected to be completed by the end of March 2026, subject to customary closing conditions and approvals.
Founded in 1992 and headquartered in São Paulo, 2S is an end-to-end technology solutions provider offering services across enterprise networks, data centre and cloud solutions, cybersecurity, digital workplace, observability, and managed services. The company employs around 230 people and reported revenue of approximately $53 million for the year ended December 31, 2024, under Brazil GAAP.
The acquisition does not fall under related party transactions and none of Black Box’s promoters or group entities have any interest in 2S, the company said.
Black Box said the acquisition aligns with its long-term strategy to expand its footprint in Latin America, strengthen its end-to-end services portfolio, and accelerate growth in high-value, recurring managed services. Industry analysts said the transaction positions Black Box to deepen its presence in Brazil, one of Latin America’s largest IT services markets, while enhancing its ability to offer integrated technology solutions across global enterprise, mid-market and SMB customer segments.
