Sterlite Technologies subsidiary to acquire 12.8% stake in Israel-based ASOCS

New Delhi: Sterlite Technologies Ltd (STL) on Thursday said its subsidiary has entered into definitive agreements to acquire 12.8 per cent stake in Israel-based ASOCS.

“Sterlite Global Venture (Mauritius) Ltd, a wholly owned subsidiary of STL, has entered into definitive agreements to acquire 12.8 per cent stake (on issued and outstanding basis) in ASOCS, a vRAN (virtual Radio Access Networks) technology company based out of Israel,” a regulatory filing said.

ASOCS provides solutions for enterprise and telco-networks, it added.

“Acquisition of the shares of investee company is done at a mutually agreed pre-money valuation. The said valuation is not disclosed herein due to reasons of confidentiality,” it said.