Sterlite Tech arm to fully acquire Impact Data Solutions

Broadband solution provider Sterlite Technologies Ltd (STL) on Wednesday said its Mauritius-based arm has signed a pact to acquire entire stake in the UK-based Impact Data Solutions at an enterprise value of around Rs 105 crore.

Sterlite Global Venture (Mauritius) Ltd has acquired an 80 per cent stake in Impact Data Solutions (IDS) in the first tranche and plans to acquire another 20 per cent over the next few years, STL said in a regulatory filing.

The company said it has acquired its first tranche of stake at an enterprise value of about 12 million GBP.

"Sterlite Global Venture (Mauritius) Limited, a wholly-owned subsidiary of STL, has entered into definitive agreements to acquire a 100 per cent stake in Impact Data Solutions Group," STL said.

The group, made up of Impact Data Solutions Ltd UK and its affiliate company, provides network infrastructure solutions to hyperscale data centres and co-location providers.

"As part of the transaction, STL has acquired 80 per cent of the shares of the Group in the first tranche and the balance 20 per cent will be acquired over the next few years on an earn-out model," STL said.

IDS is a key partner to two of the top-four global cloud companies for their data centre connectivity needs with one relationship extending continuously for the past 10 years, STL said.

"The acquisition solidifies STL's position in the cloud and data centre market and brings access to two of the top global cloud providers into its customer pool. This acquisition brings STL one step closer towards its journey of expanding its addressable market to USD 75 billion by 2023," the statement said.