For all-cash deal of Rs 180 crore
Sterlite Technologies has entered into a definitive agreement for the acquisition of Elitecore Technologies (Elitecore), a global telecom software product company. Elitecore is a leading provider of Operations Support Services / Business Support Services and is majority owned by First Carlyle Ventures Mauritius, whose affiliate is advised by The Carlyle Group.This acquisition will be for an overall enterprise value of approximately Rs180 crore in an all-cash deal. The transaction is expected to be value accretive by FY17 and is expected to be closed shortly subject to completion of certain regulatory and statutory formalities. Upon completion of the transaction, Elitecore Technologies is proposed to be merged into Sterlite Technologies.
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