Sterlite Technologies to acquire Italian optical interconnect products company Optotec

Sterlite Technologies 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.

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