STL Clearcomm acquisition to enhance network integration business
STL has acquired UK network integration firm, Clearcomm Group.
STL has been enhancing its end-to-end network and system integration solutions throughout the world. The acquisition is a part of this global strategy, with the aim of enhancing the presence of the company’s network integration solutions across the UK and Europe.
Clearcomm is a privately held company that provides end-to-end network integration solutions and capabilities in the UK. It has long standing relationships with marquee customers in the UKfor more than 10 years. It has also been generating profitable growth with revenues in the range of £20m over the past three years thanks to its delivery model for large scale FTTx network integration projects. It is these specialisations that STL feel will complement its own experience in optical connectivity and data centre integration solutions.
The transaction is structured to acquire 100 per cent of the share capital in two tranches. Tranche 1 entails acquisition of 80 per cent of the share capital, effective immediately (subject to customary pre-closing conditions), and is based on an enterprise value of £15.5m. The balance 20 per cent shareholding will be acquired in 2023.
Stuart Evans and Richard Breffitt, managing directors at Clearcomm Group said: ‘STL has a global vision for enabling digital transformation, and has set off on an exciting growth journey. We, at Clearcomm, are looking forward to adding value with our network integration specialisation and being an integral part of this growth story.’
Added Anand Agarwal, group CEO at STL: ‘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-fiberised digital networks.’