Sterlite Technologies to acquire stake in ASOCS
Sterlite Global Venture (Mauritius) entered into a definitive agreement to acquire 12.8 per cent in ASOCS, which is a vRAN technology company based in Israel.
Sterlite Global Venture (Mauritius) Limited is a wholly owned subsidiary of Sterlite Technologies Limited (STL). ASOCS is private company, which is a pioneer in virtual Radio Access Networks (vRAN) and a provider of fully virtualized, NFV-compatible virtual base station solutions for enterprises and telco-networks. It is the developer of open, disruptive, and virtualized Radio Access Network (vRAN) solutions, delivering 4G and 5G services for cellular networks. The acquisition of the stake is expected to strengthen the company's offering in the currently fast-growing virtualised radio access space. Thee cash consideration to be paid in two tranches, one as on date and one in May 2020.
STL is a global leader, providing end-to-end data network solutions. The company designs and deploys high-capacity converged fibre and wireless networks having expertise ranging from optical fibre and cables, hyper-scale network design and also deployment and network software to be the industry’s leading integrated solutions provider for global data networks.
On Thursday, the stock of the company closed at Rs 124.25, up by 3.63 per cent or Rs 4.35 per share. The 52-week high is Rs 301.55 and 52-week low is Rs 96.65 on the BSE.