Sterlite Technologies is planning to acquire operations and business support services provider Elitecore Technologies, for around Rs 1.8 billion. The transaction is expected to be completed shortly, subject to regulatory and statutory approvals. The acquisition will help both the companies to cross-sell their products in the market.
Further, the move is in line with Sterlite’s long-term goal of being an integrated telecom solution provider. The acquisition will help Sterlite to capitalise on broadband data network creation globally by offering a larger range of products and solutions, particularly focusing on high-value segments. Elitecore, on the other hand, will benefit from Sterlite’s market access, geographic reach, delivery capability and financial strength.
