Acquisition of patented Italian technology
Sterlite Technologies Ltd (STL) (NSE: STLTECH), an industry leading integrator of digital networks, has signed a definitive agreement to acquire Optotec S.p.A, a leading Optical Interconnect Products Company based in Italy, for Euro29 million.
The acquisition will create a solid springboard to offer a complete bouquet of solutions to customers across Europe, India and the Middle East.
Privately-held Optotec provides a complete range of Optical Interconnect Products for Telecommunication, FTTH and Cloud Networks in Europe.
Optotec, under its patented technology, has an end-to-end portfolio ranging from Outside Plant (OSP) to Central Office (CO) to Customer Premises (CP) that would complement STL’s ‘Opticonn’ offering of optical fibre and cables for a truly integrated products portfolio.
Optotec has a strong legacy in the Optical Interconnect portfolio of over 20 years and shares long-standing relationships with marquee European telecom operators.
The transaction is structured to acquire 100% of Optotec’s shareholding on closing at an enterprise value (EV) of Euro 29 million. The deal will be financed by a mix of internal accruals and foreign currency debt instruments. The Closing of the transaction is subjected to customary regulatory approvals.
“As the investments by Operators in fibre network infrastructure accelerate to support next-gen services like 5G, FTTH and edge cloud, the combination of STL and Optotec will provide our global customers with an enhanced array of innovative products and technologies,” STL CEO Dr. Anand Agarwal said announcing the acquisition on 2 Nov 2020.
“Claudio Mega and his team have developed an impressive product portfolio and established a market leading position for Optotec. Most importantly, both Optotec and STL have a similar value system and philosophy of technology and innovation, making this acquisition an ideal fitment into the STL family,” he said.
“We at Optotec are incredibly excited to work with STL to scale our business and expand our customer base. STL, with its global customer access and extensive industrial scale, is the perfect partner for our growth journey,” added Optotec CEO Claudio Mega.
STL designs and integrates digital networks for customers. With core capabilities in Optical Interconnect, Virtualised Access Solutions, Network Software and System Integration, we are the industry’s leading end-to-end solutions provider for global digital networks.
STL partners with global telecom companies, cloud companies, citizen networks and large enterprises to deliver solutions for their fixed and wireless networks for current and future needs.
STL has a strong global presence with next-gen optical preform, fibre and cable 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. #technolgy #data #cloud #banking #investment #exports /fiinews.com
