Sunday, September 27, 2015

Sterlite Technologies Acquired Elitecore for $27M

Elitecore Technologies, often covered in my blog with its PCRF and other OSS products, was acquired for an "overall enterprise value of approximately Rs180 crore ($27.2M) in an all cash deal".

Sterlite Technologies announced it has "entered into a definitive agreement for the acquisition of Elitecore Technologies.. Elitecore is a leading provider of Operations Support Services / Business Support Services and is majority owned by First Carlyle Ventures Mauritius, whose affiliate is advised by The Carlyle Group. Elitecore was established in 1999 by highly experienced software technocrats with over 20 years of experience.

.. Elitecore is a profitable niche player with FY 15 revenues of Rs147cr 
($22.2M) and EBITDA of Rs16cr ($2.4M) and is cash positive on a net debt basis"

Related posts:
  • 3 Wins for Elitecore PCC in Cable - here
  • EliteCore Offers PCRF as Cloud Service  - here
  • Named Deployments: Aircel , O-Zone
"The company has been continuously profitable for the last 7 years and the financial performance would continue to improve given the strategic decision to build its service capabilities and focus on investing in right growth product categories.

..Sterlite has taken a strategic decision to capitalize on the broadband data network creation globally by offering a larger range of products and solutions especially focusing on the high value product segments. Elitecore’s portfolio enables Sterlite to serve Telco operators’ mission critical applications that drive profitability and scalability

See "Sterlite Technologies announces acquisition of global telecom software company Elitecore Technologies" - here.

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