Sterlite Technology to Acquire Clearcomm of UK for 15.5 Million Pounds


The company ‘Sterlite Technology’ is going to Acquire Clearcomm Group Ltd, a network integration company based in United Kingdom for 15.5 million pounds for the purpose of globalising the network integration business of Sterlite Technology, and the acquisition of the company is going to be responsible for enhancing the presence of the network solutions across Europe and United Kingdom.

The company Clearcomm is a privately owned company, that has been providing the end-to-end network integration solutions, along with the capabilities in the United Kingdom, and according to the reports, the company is also generating the profitable growth along with the revenues in the range of 20 million pounds and the growth rates of more than 25 percent over the previous three years.

Anand Agarwal, CEO of Sterlite Technology said, As the digital infrastructure investments are increasing rapidly across the world, Sterlite Technology is also globalizing the system integration solutions of the company to provide help in building such advanced networks.

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Mihir Modi, CFO at Sterlite Technology said, along with the existing clients of the company Clearcomm, Sterlite Technology is also going to look to bid for the 5 billion pounds project of the government of United Kingdom known as ‘Project Gigabit’ along with several other projects with some of the private telecom companies in United Kingdom.

Richard Breffitt and Stuart Evans, managing directors of Clearcomm Group said, Sterlite Technology is having a vision for enabling the digital transformation across the globe, and they are now looking forward to add value with the help of their specialization of network integration and for being an integral part of the growth story of both the companies.