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Sterlite Technologies buys into Israeli telecom technology company
Photo Credit: VCCircle

Sterlite Technologies Ltd has acquired a minority stake in ASOCS Ltd, an Israeli company that develops virtualized Radio Access Network (vRAN) solutions for fourth- and fifth-generation cellular networks.

Pune-based Sterlite, a data networks solutions provider, said in a statement it has bought a 12.8% stake in ASOCS.

It didn’t disclose the deal value but said it will make the cash payment in two tranches. It has made the first payment and will make the second payment in May.

The investment will strengthen the company’s offerings in the fast-growing vRAN segment, Sterlite said.

It added that ASOCS is disrupting the traditional RAN market with an open and virtualized software solution, delivering 4G and 5G cellular network solutions. Sterlite and ASOCS will create solutions for the rollout of 5G networks through this partnership.

Sterlite said it also aspires to develop and offer next-generation converged data network solutions to its telecom and enterprise clients.

“Open RAN architecture and virtualisation are key to building software-centric networks to meet the exploding demands of networks of tomorrow,” Sterlite group CEO Anand Agarwal said.

Shares of Sterlite Technologies closed at Rs 124.25 apiece on the BSE on Thursday, up 3.63% from the previous close. The stock has traded in the range of Rs 301.55 and Rs 96.65 apiece over the past 52 weeks.

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