消息人士向CNBC-TV18透露，埃萨集团支持的Black Box正就收购纳斯达克上市公司Aeries Technology进行早期谈判。一项交易对Aeries的估值可能达到7000万至9000万美元。
Essar Group-backed Black Box is in early talks to acquire Nasdaq-listed Aeries Technology, sources told CNBC-TV18. A deal could value Aeries at $70-90 million.
据消息人士称，谈判尚处于早期阶段。交易结构、资金和时间表尚未敲定。目前也不清楚Black Box是会收购整家公司还是控股权。
The talks are at an early stage, according to the sources. The deal structure, funding and timeline have not been finalised. It is also not yet clear whether Black Box would buy the whole company or a controlling stake.CNBC-TV18 has reached out to Black Box and Aeries for comment.
CNBC-TV18已联系Black Box和Aeries寻求置评。目前正在等待其回复。一致买入评级：莫蒂拉尔·奥斯瓦尔金融服务公司看好30%的上涨空间，称其具备实现持续增长的良好条件。
Its response is awaited. Consensus Buy Stock: Motilal Oswal sees 30% upside, says well-positioned for sustained growthAeries currently has a market capitalisation of about $36 million.
Aeries目前的市值约为3600万美元。以7000万至9000万美元的价格达成交易将意味着为其股东带来显著溢价。
A deal at $70-90 million would mean a significant premium for its shareholders.
这一数字仍仅为其上市时估值的一小部分。该公司于2023年3月与特殊目的收购公司Worldwide Webb Acquisition Corp签署了一项价值6.56亿美元的业务合并协议。该交易于2023年11月完成，合并后的公司开始在纳斯达克交易，股票代码为AERT。与该时期通过特殊目的收购公司上市的许多公司一样，Aeries的股价在上市后大幅下跌。
That figure is still a fraction of what Aeries was valued at when it went public. The company signed a $656 million business combination with the SPAC Worldwide Webb Acquisition Corp in March 2023. The deal closed in November 2023, and the combined company began trading on Nasdaq under the ticker AERT. Like many companies that listed through SPACs in that period, Aeries saw its stock fall sharply after the listing.
通往当前市值的道路一直坎坷。今年早些时候，Aeries因股价长期低于1美元而面临被纳斯达克退市的风险。该公司于6月实施了1股并为8股的股份并股，并于7月重新符合纳斯达克的上市规则。
具有战略兴趣的买家可以为Aeries股东提供一个比目前市场对该股票定价更好的价格来退场。
The road to its current market value has been bumpy. Earlier this year, Aeries faced the risk of being delisted from Nasdaq after its share price stayed below $1 for an extended period. It carried out a 1-for-8 share consolidation in June and regained compliance with Nasdaq's listing rules in July.A buyer with a strategic interest could offer Aeries shareholders an exit at a better price than the market is currently placing on the stock.
Aeries总部位于孟买，提供外包和离岸外包服务，经常与私募股权合作伙伴合作。实际上，它帮助公司建立和运营其离岸业务，包括全球能力中心。它在印度和墨西哥拥有交付团队。
Aeries is based in Mumbai and provides outsourcing and offshoring services, often working alongside private equity partners. In practice, it helps companies set up and run their offshore operations, including global capability centres . It has delivery teams in India and Mexico.
该公司在2026财年扭亏为盈。其报告净利润为350万美元，而2025财年亏损2160万美元。全年营收为7000万美元，调整后息税折旧摊销前利润为830万美元，利润率为11.9%。Aeries预计2027财年营收为8000万至8400万美元，这意味着约14%至20%的增长。
The company returned to profit in FY26. It reported a net profit of $3.5 million, against a loss of $21.6 million in FY25. Revenue for the year was $70 million and adjusted EBITDA was $8.3 million, a margin of 11.9%. Aeries has guided for FY27 revenue of $80-84 million, which would mean growth of roughly 14-20%.Black Box builds and manages IT infrastructure for large enterprises, from networks to data centres.
Black Box为大型企业构建和管理IT基础设施，从网络到数据中心。Aeries将使其更进一步，涉足为客户运营离岸业务。这种类型的业务通常会带来更长的合同和经常性收入。
Aeries would take it a step further, into running offshore operations for clients. That kind of business usually brings longer contracts and recurring revenue.
Aeries服务的市场正在快速增长。根据Zinnov-Nasscom 2026年全球能力中心全景报告，截至2026财年，印度拥有2117个全球能力中心，雇用了约236万名员工，创造了约984亿美元的估计收入。客户群也在扩大。大型企业推动了全球能力中心增长的第一波浪潮，现在更多中端市场公司和独角兽企业也在印度建立全球能力中心。这些正是Aeries合作的私募股权支持的中型企业。
The market Aeries serves is growing quickly. According to the Zinnov-Nasscom GCC Landscape 2026, India had 2,117 GCCs as of FY2026, employing about 2.36 million people and generating an estimated $98.4 billion in revenue. The client base is also widening. Large enterprises drove the first wave of GCC growth, and now more mid-market companies and unicorns are setting up GCCs in India too. Those are exactly the kind of PE-backed mid-sized firms Aeries works with.
如果这笔交易得以进行，这将是Black Box今年进行的第二起海外收购。在6月当季，该公司收购了巴西的2S Inovações Tecnológicas。
If the deal goes through, it would be Black Box's second overseas acquisition this year. During the June quarter, the company bought Brazil's 2S Inovações Tecnológicas.
Black Box报告2027财年第一季度营收为17.19亿卢比，同比增长24%。净利润增长18%至5.59亿卢比，息税折旧摊销前利润增长38%至16亿卢比。
Black Box reported Q1FY27 revenue of ₹1,719 crore, up 24% from a year earlier. Net profit rose 18% to ₹55.9 crore, and EBITDA was up 38% to ₹160 crore.
Black Box以前做过类似的事情。2019年，埃萨旗下的AGC Networks收购了美国纳斯达克上市的Black Box Corporation。这笔交易使Black Box Corporation私有化，并为AGC的营收增加了约6.0亿美元。AGC后来更名为Black Box有限公司。如果与Aeries的谈判成功，这将是该公司第二次收购纳斯达克上市公司。一旦两家公司作出回应，本报道将进行更新。
Black Box has done this before. In 2019, Essar's AGC Networks bought Nasdaq-listed Black Box Corporation in the US. The deal took Black Box Corporation private and added about $600 million to AGC's revenue. AGC later renamed itself Black Box Ltd. If the Aeries talks go through, it would be the second time the company has bought a Nasdaq-listed business. This story will be updated once the companies respond.