Broadband technology company Sterlite Technologies on Thursday said it would acquire Clearcomm Group, the leading Network Integration company in the UK, to further its global integration business with an estimated business value of Rs 160 crore.
Sterlite Tech will receive 100 percent of Clearcomm Group’s share capital in two lines, the company said in a regulatory file.
“We will pay an estimated Rs 125 crore by getting 80 per cent (from Clearcomm Group in the first installment),” STL Group chief financial officer Mihir Modi told PTI.
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The company will receive an 80 percent stake in Clearcomm Group in the first half of the business estimate of about R158 and another 20 percent by 2023.
“With the addition of Clearcomm’s network integration technology; the power of Optical Connectivity and STL’s Data Center, we are specially positioned to help our customers deliver high-quality digital networks,” said Sterlite Technologies (STL) team official Anand Agarwal.
The acquisition will improve the availability of STL Network Integration solutions throughout the UK and Europe.
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“Clearcomm has a long-term and long-term relationship with UK market customers, with more than a decade of experience. the text.
