Black Box Limited has submitted a report to the stock exchanges regarding a violation of its Code of Conduct for Prevention of Insider Trading. The disclosure, dated May 22, 2026, was made in accordance with the SEBI (Prohibition of Insider Trading) Regulations, 2015.

The violation involved a contra trade executed by Paras Jain, an Associate Vice President handling Corporate Control & Consolidation. Jain purchased one equity share on August 28, 2025, for ₹464.80. This transaction was identified as a violation because it occurred during the six-month period following a previous trade, which is prohibited under the company's code of conduct.

Action Taken

Following the detection of the violation, the company issued a warning letter to the designated person. The management recorded in writing that the trade amount was insignificant and that the transaction was made inadvertently without any intention of violating the regulations or making undue gains.

Violation Details

The report provided to the exchanges outlined the specific details of the non-compliance and the subsequent administrative action taken by the firm.

The company confirmed that there were no previous instances of such violations since the last financial year. No amount was collected as a penalty, and the transfer details to SEBI were marked as not applicable.

Black Box Limited has successfully completed the acquisition of 2S Inovações Tecnológicas S.A., a leading Brazil-based provider of digital infrastructure solutions. The transaction, executed through its step-down subsidiary BLACK BOX DO BRASIL INDÚSTRIA E COMÉRCIO LTDA., secures a 100% stake in the target entity. The acquisition was formally completed on May 13, 2026, at 2:00 a.m. IST, with the transaction effective from May 1, 2026. The disclosure was submitted to stock exchanges under Regulation 30 of SEBI (LODR) Regulations, 2015, referencing the initial intimation letter BBOX/SD/SE/2026/10 dated February 12, 2026.

Acquisition Details

The completed transaction marks a significant step in Black Box's global growth strategy. The company expects the acquisition to contribute approximately Rs. 500 crores in annualised revenues, supporting its long-term objective of achieving US$2 billion in annual revenues by 2030. The key parameters of the deal are summarised below:

Strategic Rationale

The acquisition significantly strengthens Black Box's capabilities and market presence across Latin America, particularly in high-growth areas such as data center networking, digital connectivity, and cybersecurity. 2S Inovações Tecnológicas, established in 1992 and headquartered in São Paulo, brings deep expertise in enterprise networking, cloud infrastructure, and managed services. This move reinforces Brazil's strategic importance within Black Box's global operations as enterprises and hyperscalers continue to invest in next-generation digital infrastructure in the region.

Leadership Commentary

Sanjeev Verma, Whole-Time Director & Chief Executive Officer of Black Box, highlighted the strategic fit: "The acquisition of 2S marks another important milestone in Black Box's global growth journey and further strengthens our strategic position in the high-growth LATAM market. 2S brings deep expertise in Cisco networking, enterprise and data center infrastructure, cloud, cybersecurity, and managed services, which strongly complements Black Box's global capabilities. This acquisition enhances our ability to support customers across the full lifecycle of digital infrastructure transformation."