Digital technology company, STL announced that it has entered into definitive agreements to acquire Italy-based Optotec S.p.A, Optical Interconnect Products Company.
According to the announcement – the transaction is structured to acquire 100% of Optotec’s shareholding on closing at an enterprise value (EV) of €29Mn (29 Million euros). 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).
Optotec which is a privately held company provides a range of Optical Interconnect Products for Telecommunication, FTTH and Cloud Networks in Europe. The company, 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 integrated products portfolio.
Speaking on the acquisition, Claudio Mega, Optotec CEO, 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”
Dr. Anand Agarwal, Group CEO, said – “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. 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 similar value system and philosophy of technology and innovation, making this acquisition an ideal fitment into STL family” – He added.
Sterlite Technologies Limited design and integrate digital networks for their customers. It has a 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.
–AK
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