STL (Sterlite Technologies Ltd) has acquired Clearcomm Group Ltd, a UK-based network integration company. 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.
Clearcomm is a privately held company that provides end-to-end network integration solutions and capabilities in the UK, including for large-scale FTTx projects. The company claims revenues in the range of GBP 20 million and growth rates of over 25% over the past 3 years.
STL said the deal will enhance the presence of its Network Integration solutions across UK and Europe.
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.”
