Friday, 24 March, 2023

Sterlite Technology to acquire UK’s Clearcomm Group

<p>Sterlite Technologies has revealed its plans to acquire UK&rsquo;s Clearcomm Group at an enterprise valuation of Rs 160 cr. This deal is a step by the company for globalising its system integration business. Sterlite will acquire an 80% stake in the first tranche which will be worth Rs 158 cr while the rest will be acquired by 2023. Over the last three years, Clearcomm has been generating an income of around Rs 200 cr and grew at the rate of 25%.</p> <p>&nbsp;</p>