Saturday, August 29, 2015

India's AGC Networks buys fast-growing Transcend United

The Wayne-based information technology firm and its 130 employees are being acquired less than four years after its formation via a four-company merger.

India's AGC Networks buys fast-growing Transcend United


Say goodbye to one of the 17 companies that made the Inc. 500 fastest-growing companies list in 2012.

Transcend United Technologies L.L.C., a Wayne information technology firm, was acquired last week by AGC Networks Inc., a U.S. unit of an Indian conglomerate.

The Inc. 500 list ranks privately held companies by their revenue growth over a three-year period. Transcend United was ranked No. 254 on last year’s list, with revenue growth of 1,406 percent.

The company is a systems integrator focused on unified communications and data centers that traces its origins to a Broomall software business founded in the early ’80s known as Fastech Inc. Transcend United was formed from a November 2009 roll-up of four IT companies, including Fastech.

Backed by Radnor-based NewSpring Mezzanine Capital L.P., the company continued to grow by acquisition. In 2011, Transcend United acquired LiquidSpoke and relocated its headquarters to LiquidSpoke’s Wayne offices. In 2012, it bought the Enterprise Solutions Sales division of Columbus, Ohio-based Relational Technology Solutions.

Now Transcend United itself will absorbed under the AGC Networks’ brand. In a statement, the companies said that the 130 Transcend United employees will continue to operate from their current offices in 13 states.

With terms of the transaction not disclosed, AGC Networks did say that Transcend United’s annualized revenues were about $43 million. That’s up from $37.4 million in 2011 and $26.2 million in 2010, according to data the company provided to Inc. magazine.

AGC Networks has its U.S. offices in the Las Colinas area of Irving, Texas, and global headquarters in Mumbai. The company, which has 1,300 employees worldwide, is part of the Essar Group, a $27 billion conglomerate.

Essar, which started out as a construction company in 1969, now has 75,000 employees in 25 countries.

Inquirer Columnist
We encourage respectful comments but reserve the right to delete anything that doesn't contribute to an engaging dialogue.
Help us moderate this thread by flagging comments that violate our guidelines.

Comment policy: comments are intended to be civil, friendly conversations. Please treat other participants with respect and in a way that you would want to be treated. You are responsible for what you say. And please, stay on topic. If you see an objectionable post, please report it to us using the "Report Abuse" option.

Please note that comments are monitored by staff. We reserve the right at all times to remove any information or materials that are unlawful, threatening, abusive, libelous, defamatory, obscene, vulgar, pornographic, profane, indecent or otherwise objectionable. Personal attacks, especially on other participants, are not permitted. We reserve the right to permanently block any user who violates these terms and conditions.

Additionally comments that are long, have multiple paragraph breaks, include code, or include hyperlinks may not be posted.

Read 0 comments
comments powered by Disqus
About this blog
Mike Armstrong blogs about Philadelphia corporations and business-related topics. Contact him at 215-854-2980. Reach Mike at

Mike Armstrong Inquirer Columnist
Also on
letter icon Newsletter