The aim of the demerger is to transform Sterlite Tech into a pure play telecom player. Sterlite Tech will deliver smart networks: telecom products such as optical fiber & fiber cables, services such as system & network integration and software including OSS/BSS enablement.
OSS-BSS solution company Elitecore Technologies will be merged into Sterlite Tech. Sterlite Tech acquired Elitecore Technologies in 2015.
Sterlite Tech aims to establish as India’s only vertically integrated optical communication products, services and software company. It aims to transform everyday living by delivering smarter networks. Sterlite Tech aims to capture the demand in the global optical fiber market. The demand for optical fiber was close to 370 million fkm last year – mainly driven by growing data consumption.
Sterlite Tech has manufacturing facilities in India, China and Brazil. Sterlite Tech is a major supplier to telecoms with supply footprint across 20 countries.
Sterlite Technologies has already developed innovations with over 100 patents.
Anand Agarwal, CEO of Sterlite Technologies, said: “This restructuring underscores our commitment to India’s broadband transformation.”