Sterlite Technologies Limited (STL) announced the signing of definitive agreements to acquire Optotec S.p.A, a leading Optical Interconnect Products Company based in Italy.
Optotec, a privately held Company, provides a complete range of Optical Interconnect Products for Telecommunication, FTTH and Cloud Networks in Europe. Optotec, under its patented technology, has an end-to-end portfolio ranging from Outside Plant (OSP) to Central Office (CO) to Customer Premises (CP) that would complement STL’s ‘Opticonn’ offering of optical fibre and cables for a truly integrated products portfolio. Optotec has a strong legacy in Optical Interconnect portfolio of over 20 years and shares long standing relationships with marquee European telecom operators.
The transaction is structured to acquire 100% of Optotec’s shareholding on closing at an enterprise value (EV) of €29Mn (29 Million euros). 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.
The acquisition will create a solid springboard to offer a complete bouquet of solutions to customers across Europe, India and the Middle East.
“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 and his team have developed an impressive product portfolio and established a market leading position for Optotec. Most importantly, both Optotec and STL have similar value system and philosophy of technology and innovation, making this acquisition an ideal fitment into STL family,” said, Dr. Anand Agarwal, Group CEO.
“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”, said, Claudio Mega, Optotec CEO.
