Globalizing STL’s Network Integration Business, with local strength in UK and Europe.
July 22, 2021
Sterlite Technologies Limited (STL) has announced the acquisition of Clearcomm Group Ltd, a UK based network Integration Company.
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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 the UK and Europe.
Watch: Wire & Cable Indian Fortnightly News.
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 the acquisition of 80% of the share capital which will happen immediately (subject to customary preclosing conditions) and is based on an Enterprise Value of GBP 15.5 million. The balance 20% shareholding will be acquired in 2023.
Also Read: Sterlite Technologies Records Robust Results, Revenue Stands at Rs. 1309 Crore for Q1FY22.
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.”
