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Pune (Maharashtra) [India], July 22 (ANI/PRNewswire): STL, an industry leading integrator of digital networks, today announced the acquisition of Clearcomm Group Ltd, a UK-based network integration company.
As network creators across the world deploy large scale networks for 5G, FTTx and Rural use cases, 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 UK-based Clearcomm Group, to enhance the presence of its Network Integration solutions across UK and Europe.
Clearcomm is a privately held company that provides end-to-end network integration solutions and capabilities in the UK. Clearcomm has long standing relationships with marquee customers in the UK, with over a decade of experience. It has been generating profitable growth with revenues in the range of GBP 20 million and growth rates of over 25 per cent over the past 3 years.
Clearcomm has achieved this by developing an excellent delivery model for large scale FTTx network integration projects. These specialisations complement STL's existing leadership in Optical Connectivity and Data centre integration solutions, to create a differentiated value proposition for building national-scale, cloud-enabled, next-generation digital networks.
The transaction is structured to acquire 100 per cent of the share capital in 2 tranches. Tranche 1 entails acquisition of 80 per cent 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 per cent shareholding will be acquired in 2023.
Commenting on this development, Stuart Evans and Richard Breffitt, Managing Directors, Clearcomm Group remarked, "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."
Welcoming Clearcomm on board, Dr Anand Agarwal, Group CEO, STL, said, "As digital infrastructure investments are increasing across the globe, STL is globalising its System Integration solutions to help build these advanced networks. 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."
This story is provided by PRNewswire. ANI will not be responsible in any way for the content of this article. (ANI/PRNewswire)
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