STL announces divestment of IDS

STL, one of the industry’s leading integrators of digital networks, announced its divestment of Impact Data Solutions Limited (IDS), UK, as a part of its consolidated strategy to focus on its core business segments of optical solutions and global services.

With a strategic intent to play to its core, STL will sell its equity in IDS to Hexatronic Group AB, for an initial consideration and an earn-out upside. Over the past few years, IDS has been operating in certain niche areas of the data-centre market, primarily inside-data-centre connectivity and containment solutions. This move will help IDS achieve future success and enable STL to strengthen its core business and balance sheet. Going forward, STL will continue to evaluate non-core assets and take prudent decisions to re-balance its portfolio and optimise capital allocation, the statement said.

Commenting on this development, Ankit Agarwal, MD, STL said, “As we take our company towards focused growth in this decade of network creation, our efforts and capital allocation will be fully aligned towards optical and global services businesses. We will continue to calibrate and realign our portfolio to enhance profitability, increase shareholder value, and drive towards our purpose of transforming billions of lives. We are proud of the value that we have co-created with IDS and wish them the best for the future.”

+ posts

HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com.

What's your take on this post ? Comment: