Sterlite Technologies is set to acquire a telecom software product company, Elitecore Technologies, for around Rs 180 crore
Sterlite Technologies is set to acquire a telecom software product company, Elitecore Technologies, for around Rs 180 crore in an all-cash deal to widen its telecom portfolio.
This acquisition opens up access to a large multi-billion dollar market which, when combined with the existing market for optical products globally, significantly enhances the overall growth opportunity, Sterlite said.
In addition to its current offerings comprising optical products and allied system integration services, Sterlite will now offer software solutions for operations support, business support and revenue management.
Sterlite’s current business model caters to requirements of high speed data networks in India and globally. The company has taken a strategic decision to capitalise on the broadband data network creation globally by offering a larger range of products and solutions especially focusing on the high value product segments.
Elitecore’s portfolio enables Sterlite to serve Telco operators’ mission critical applications that drive profitability and scalability. Elitecore is a 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. Elitecore is a profitable niche player with FY 15 revenues of Rs 147 crore and EBITDA of Rs 16 crore and is cash positive on a net debt basis.
Biz moves
* Sterlite Technologies will acquire Elitecore Technologies for around Rs 180 crore in an all cash deal
* The acquisition will open up access to a large multi-billion dollar market and enhances the overall growth
* Elitecore is a profitable niche player with FY 15 revenues of Rs 147 crore and EBITDA of R16 crore
