Sterlite Technologies Arm To Fully Acquire Impact Data Solutions
Broadband solution provider Sterlite Technologies Ltd. said its Mauritius-based arm has signed a pact to acquire entire stake in the U.K.-based Impact Data Solutions at an enterprise value of around Rs 105 crore.
Sterlite Global Venture (Mauritius) Ltd. has acquired an 80 percent stake in Impact Data Solutions in the first tranche and plans to acquire another 20 percent over the next few years, STL said in a regulatory filing.
The company said it has acquired its first tranche of stake at an enterprise value of about 12 million pounds.
"Sterlite Global Venture (Mauritius) Limited, a wholly-owned subsidiary of STL, has entered into definitive agreements to acquire a 100 percent stake in Impact Data Solutions Group," STL said.
The group, made up of Impact Data Solutions Ltd. U.K. and its affiliate company, provides network infrastructure solutions to hyperscale data centres and co-location providers.
IDS is a key partner to two of the top-four global cloud companies for their data centre connectivity needs with one relationship extending continuously for the past 10 years, STL said.
"This acquisition brings STL one step closer towards its journey of expanding its addressable market to $75 billion by 2023," the statement said.