In a major development, Sterlite Technologies an industry-leading integrator of digital networks announced the signing of definitive agreements to acquire Optotec S.p.A, a leading Optical Interconnect Products Company based in Italy. 

The transaction is planned to acquire 100 percent of Optotec’s shareholding on closing at an enterprise value 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 strong catalyst to offer a complete range of solutions to customers across Europe, India and the Middle East.

Optotec provides a complete range of Optical Interconnect Products for telecom, FTTH and Cloud Networks in Europe. The company, under its patented technology, has an end-to-end portfolio ranging from Outside Plant to Central Office to Customer Premises that would complement STL’s “Opticonn” offering of optical fiber and cables for a truly integrated products portfolio. Optotec has a strong inheritance in the Optical Interconnect portfolio of over 20 years and shares long-standing relationships with marquee European telecom operators.

On Tuesday, shares of Sterlite Technologies Limited is trading on the National Stock Exchange at Rs. 145.65 per share as compared to the previous close of Rs. 144.75 during post-lunch hours of trade.

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