Sterlite Technologies acquires Network Integration company Clearcomm

Sterlite Technologies Limited (STL) is a leading integrator of digital networks. The company has acquired Clearcomm Group Ltd, a UK-based network integration company. While the company will be fully acquired, the transaction will take place in two tranches. Tranche 1 entails the acquisition of 80% of the share capital which will happen immediately (subject to customary pre-closing conditions). The valuation of the transaction comes out as an Enterprise Value of GBP 15.5 million. The balance  20% shareholding, Sterlite Technologies will acquire in 2023.

Network creators across the world are deploying large-scale networks for 5G, FTTx and Rural use cases. Meanwhile, STL has been enhancing its end-to-end network and system integration solutions across the globe. As a part of this global strategy, STL is acquiring Clearcomm Group since the latter will help STL enhance the presence of its Network Integration solutions across the UK and Europe.

From the leaders

Clearcomm is a private company that provides end-to-end network integration solutions and capabilities in the UK. It has long-standing relationships with marquee customers in the UK, with over a decade of experience. The company has been generating profitable growth with revenues in the range of GBP 20 million. Further, it has the growth rates of over 25% over the past 3 years. The company also has an excellent delivery model for large-scale FTTx network integration projects.

These specializations complement STL's existing leadership in Optical Connectivity and Datacenter integration solutions. Together, they will create a differentiated value proposition for building national-scale, cloud-enabled, next-generation digital networks. Commenting on this development, Stuart Evans and Richard Breffitt, Managing Directors, Clearcomm Group remarked, “STL has a global vision for enabling digital transformation and it has set off on an exciting growth journey. We, at Clearcomm, are looking forward to adding value with our network integration specialization; thus, being an integral part of this growth story.”

“As digital infrastructure investments are increasing across the globe, STL is globalizing its System Integration solutions to help build these advanced networks,” said Dr. Anand Agarwal, Group CEO, STL. He further welcomed Clearcomm on board and said, “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-fiberized digital networks.”