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.
stl.tech | Twitter | LinkedIn | YouTube
SOURCE Sterlite Technologies Ltd. (STL)
