Sterlite Tech's Mauritius arm acquires IDS Group in Britain

Data network solutions company Sterlite Technologies' Mauritius subsidiary has entered into definitive agreements to acquire 100 per cent stake in Britain's Impact Data Solutions (IDS) Group.

The group made up of IDS Ltd and its affiliate company provides network infrastructure solutions to hyper-scale data centres and co-location providers. The enterprise value of the transaction is 12 million pounds (about Rs 105 crore).

As part of the transaction, Sterlite Global Venture (Mauritius) Ltd has acquired 80 per cent of the shares in the group in first tranche. "The balance 20 per cent will be acquired over the next few years on an earn-out model," the company said in a statement.

The acquisition provides opportunities for cross leveraging customers, expanding geographically and adds inside data centre solutions to Sterlite's offerings portfolio.