LONDON, July 22, 2021 /PRNewswire/ -- STL (NSE: STLTECH),
an industry leading integrator of digital networks, today announced
the acquisition of Clearcomm Group Ltd, a UK-based network
integration company.
As network creators across the world deploy large scale networks
for 5G, FTTx and Rural use cases, STL has been enhancing its
end-to-end network and system integration solutions across the
globe. As a part of this global strategy, STL is acquiring UK-based
Clearcomm Group, to enhance the presence of its Network Integration
solutions across UK and Europe.
Clearcomm is a privately held company that provides end-to-end
network integration solutions and capabilities in the UK. Clearcomm
has long standing relationships with marquee customers in the UK,
with over a decade of experience. It has been generating profitable
growth with revenues in the range of GBP 20
million and growth rates of over 25% over the past 3 years.
Clearcomm has achieved this by developing an excellent delivery
model for large scale FTTx network integration projects. These
specialisations complement STL's existing leadership in Optical
Connectivity and Data Centre integration solutions, to create a
differentiated value proposition for building national-scale,
cloud-enabled, next-generation digital networks.
The transaction is structured to acquire 100% of the share
capital in 2 tranches. Tranche 1 entails acquisition of 80% of the
share capital which will happen immediately (subject to customary
pre-closing conditions), and is based on an Enterprise Value of
GBP 15.5 million. The balance 20%
shareholding will be acquired in 2023.
Commenting on this development, Stuart Evans and Richard
Breffitt, Managing Directors, Clearcomm Group remarked,
"STL has a global vision for enabling digital transformation, and
has set off on an exciting growth journey. We, at Clearcomm, are
looking forward to adding value with our network integration
specialisation and being an integral part of this growth
story."
Welcoming Clearcomm on board, Dr Anand Agarwal, Group CEO, STL said, "As
digital infrastructure investments are increasing across the globe,
STL is globalising its System Integration solutions to help build
these advanced networks. With the addition of Clearcomm's network
integration expertise to STL's Optical Connectivity and Data Centre
integration capabilities, we are uniquely positioned to help our
customers deliver the most advanced, deep-fiberised digital
networks."
About STL - Sterlite Technologies Ltd:
STL is an industry-leading integrator of digital networks.
Our fully 5G ready digital network solutions help telcos, cloud
companies, citizen networks and large enterprises deliver enhanced
experiences to their customers. STL provides integrated 5G ready
end-to-end solutions ranging from wired to wireless, design to
deployment and connectivity to compute. Our core capabilities lie
in Optical Interconnect, Virtualised Access Solutions, Network
Software and System Integration.
We believe in harnessing technology to create a world with
next-generation connected experiences that transform everyday
living. With a global patent portfolio of 582 to our credit, we
conduct fundamental research in next-generation network
applications at our Centres of Excellence. STL has a strong global
presence with next-gen optical preform, fibre, cable and
interconnect subsystem manufacturing facilities in India, Italy,
China and Brazil, along with two software-development
centres across India and one Data
Centre design facility in the UK.
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SOURCE Sterlite Technologies Ltd. (STL)