STL (NSE: STLTECH), an Indian integrator of digital networks, acquired Clearcomm Group Ltd, a UK-based network integration company.
The transaction – whose amount was not disclosed – is structured to acquire 100% of the share capital in 2 tranches. Tranche 1 entails acquisition of 80% of the share capital which will happen immediately (subject to customary pre-closing conditions), and is based on an Enterprise Value of GBP 15.5 million. The balance 20% shareholding will be acquired in 2023.
As a part of this global strategy, STL is acquiring UK-based Clearcomm Group, to enhance the presence of its Network Integration solutions across UK and Europe.
Led by Stuart Evans and Richard Breffitt, Managing Directors, Clearcomm is a privately held company that provides end-to-end network integration solutions and capabilities in the UK. The company has long standing relationships with marquee customers in the UK, and has been generating profitable growth with revenues in the range of GBP 20 million and growth rates of over 25% over the past 3 years.
STL is an integrator of 5G ready digital network solutions that help telcos, cloud companies, citizen networks and large enterprises deliver enhanced experiences to their customers. The company provides integrated 5G ready end-to-end solutions ranging from wired to wireless, design to deployment and connectivity to compute. Its core capabilities lie in Optical Interconnect, Virtualised Access Solutions, Network Software and System Integration.
STL has a global presence with next-gen optical preform, fibre, cable and interconnect subsystem 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.
FinSMEs
23/07/2021