Pune, India – September 30, 2015: Sterlite Technologies Limited (“Sterlite”) has completed the 100% acquisition of Elitecore Technologies Private Limited (“Elitecore”), a global telecom software product company from First Carlyle Ventures Mauritius (whose affiliate is advised by The Carlyle Group) and other shareholders. The acquisition has been completed in accordance with the terms set out in the agreement announced on September 22, 2015. Going forward, Elitecore is proposed to be merged into Sterlite.
The acquisition of Elitecore is in line with Sterlite’s overall strategy of widening its telecom portfolio of offerings to its global customers. In addition to its current offerings comprising optical products and allied system integration services, Sterlite will now offer industry leading software solutions for operations support, business support and revenue management. The addition of Elitecore’s operation will offer significant impetus to Sterlite’s efforts to scale up the contribution from services and solutions in its revenue mix to complement the large and high-growth optical products business.