STL acquires Optotec, strengthens European footprint
Digital network integrator, Sterlite Technologies (STL) has signed definitive agreements to acquire Italian interconnect vendor, Optotec.
Optotec’s product portfolio ranges from outside plant to central office to customer premises that would complement STL’s offering of optical fibre and cables. The transaction is structured to acquire 100 per cent of Optotec’s shareholding on closing at an enterprise value of €29m.
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. Anand Agarwal, Group CEO at STL explained: ‘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 (CEO, Optotec) and his team have developed an impressive product portfolio and established a market leading position for Optotec. Most importantly, both Optotec and STL have a similar value system and philosophy of technology and innovation, making this acquisition an ideal fitment into the STL family.’
Added Mega: ‘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.’