Digital network integrator STL has acquired Clearcomm Group Ltd, a UK based network integration company, as part of its global strategy and to enhance the presence of its network integration solutions across UK and Europe. The transaction is structured to acquire 100% of the share capital in 2 tranches. Tranche 1 entails acquisition of 80% of the share capital which will happen immediately, subject to customary pre-closing conditions, and is based on an enterprise value of £15.5 million. The balance 20% shareholding will be acquired in 2023.
Clearcomm is a privately held company that provides end-to-end network integration solutions and capabilities in the UK. Clearcomm has long standing relationships with marquee customers in the UK, with over a decade of experience and has been generating profitable growth with revenues in the range of £20 million and growth rates of over 25% over the past 3 years. Clearcomm has achieved this by developing an excellent delivery model for large scale FTTx network integration projects. STL says these specialisations complement its existing leadership in optical connectivity and data centre integration solutions, to create a differentiated value proposition for building national-scale, cloud-enabled, next-generation digital networks.
Commenting on this development Stuart Evans and Richard Breffitt, managing directors, Clearcomm Group remarked, “STL has a global vision for enabling digital transformation, and has set off on an exciting growth journey. We at Clearcomm, are looking forward to adding value with our network integration specialisation and being an integral part of this growth story.”
Welcoming Clearcomm on board, Dr Anand Agarwal, Group CEO, STL said “As digital infrastructure investments are increasing across the globe, STL is globalising its system integration solutions to help build these advanced networks. With the addition of Clearcomm’s network integration expertise to STL’s Optical Connectivity and Data Centre integration capabilities, we are uniquely positioned to help our customers deliver the most advanced, deep-fiberised digital networks.”
For more information, visit www.stl.tech