Sterlite Technologies, an end to end data network solutions company is set to acquire a 12.8% stake in ASOCS, an Israeli vRAN company. The acquisition will be done through its Mauritius subsidiary, Sterlite Global Venture.
Sterlite Technologies is a data technology company that offers experts end-to-end data network solutions. The company also offers optical fibre and cables, hyper-scale network design and integrated solutions for global data networks.
The acquisition will make Sterlite enter a viable partnership with ASOCS and create cutting edge 5G solution that will strengthen the company’s virtualized radio access space.
We are delighted to announce a strategic partnership with ASOCS a pioneer in virtual Radio Access Networks (vRAN). Together, we will create cutting edge 5G solutions and empower our customers to build best in class network. Read here to know more. https://t.co/1TXf2M47bU
— STL – Sterlite Technologies Limited (@STL_Tech) January 10, 2020
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The Group CEO Sterlite Technologies Limited, Anil Agarwal noted that the acquired stake will empower mobile network operators to build best-in-class networks. It will also enable the company to build vendor-neutral and autonomous mobile networks using 5G radio, Software-Defined Networking SDN, Network Function Virtualization NFV, and AI technologies.
Agrawal also noted that the partnership will introduce end-to-end skills that will enhance converged networks in the East Africa market. It will also make the company offer full-stack solutions to enterprise, telco consumers including STL’s services and system integration capabilities.
The cost for the 12.8 shares will be paid in two consecutive batches. The first batch will be paid in Q1 while the other part will be paid by May 2020.