Sterlite Technologies is planning to acquire Clearcomm Group, a leading Network Integration company in the UK, to further globalise its system integration business at an enterprise valuation of around Rs 160 crore. The company will acquire 100 per cent of the share capital of Clearcomm Group in two tranches. The company will acquire 80 per cent stake in Clearcomm Group in the first tranche at enterprise valuation of around Rs 158 crore and rest of the 20 per cent in 2023. The acquisition will enhance the presence of STL Network Integration solutions across the UK and Europe.
Sterlite Technologies is an industry-leading integrator of digital networks.
