ANI PR Wire
01 Feb 2023, 16:30 GMT+10
Mumbai (Maharashtra) [India], February 1 (ANI/PRNewswire): STL (NSE: STLTECH) a leading optical and digital solutions company, today announced the divestment of its Telecom Products Software business as a part of its strategy to intensify its focus on driving scalable growth in Optical Networking and Global Services.
With the strategic intent to accelerate its efforts towards focused growth in this decade of network creation, STL will sell its Telecom Products Software business via a business transfer agreement to the US-headquartered global acquirer of telecommunication software businesses, Skyvera via an Indian subsidiary. The divestiture will include STL's portfolio of telecom and network software capabilities in operations and business support, monetization, networking and analytics. Today, STL's Telecom Products Software business has long-term relationships with over 60 customers across Europe, India, Africa, and the Middle East who will seamlessly transition to Skyvera, an affiliate of TelcoDR, post all the regulatory formalities.
This move will help STL focus itself to drive scale and impact in its areas of strength.
Commenting on this development, Ankit Agarwal, Managing Director, STL, said, "As we set out earlier in this fiscal year, we are intensifying our focus on the most significant growth opportunities in the optical and digital domains. We have our eyes set on becoming one of the top players in Optical connectivity and driving toward our purpose of transforming billions of lives by connecting the world. We are proud of the value that our team has created and are committed to supporting them through this transition. I wish Skyvera all the best for the future."
This news comes after the company announced its decision to divest its inside-data centre connectivity arm IDS to Hexatronic in October last year.
STL is a leading global optical and digital solutions company providing advanced offerings to build 5G, Rural, FTTx, Enterprise and Data Centre networks. The company, driven by its purpose of 'Transforming Billions of Lives by Connecting the World', designs and manufactures in 4 continents with customers in more than 100 countries. Telecom operators, cloud companies, citizen networks, and large enterprises recognize and rely on STL for advanced capabilities in Optical Connectivity, Global Services, and Digital and Technology solutions to build ubiquitous and future-ready digital networks. STL's business goals are driven by customer-centricity, R&D and sustainability.
Championing sustainable manufacturing, the company has committed to achieve Net Zero emissions by 2030. With top talent from 30+ nationalities, STL has earned numerous 'Great Place to Work' awards and been voted as the 'Best Organisation for Women'. Read more, Contact us. stl.tech | Twitter | LinkedIn | YouTube
This story is provided by PRNewswire. ANI will not be responsible in any way for the content of this article. (ANI/PRNewswire)
Get a daily dose of Herald Globe news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Herald Globe.
More InformationWASHINGTON D.C.: After several high-profile near collision incidents, the US Federal Aviation Administration (FAA) has issued a safety alerts to ...
PHNOM PENH, Cambodia: Two Cambodian opposition figures--- Yim Sinorn and Hun Kosal--- have been charged under the country's rarely used ...
WASHINGTON D.C.: The US Supreme Court has ruled that a deaf student in Michigan can sue his public school district, ...
MANILA, Philippines: Under a defense agreement with the U.S., four new military bases will be located in various parts of ...
WASHINGTON D.C.: The US Centers for Disease Control and Prevention (CDC) has reported that infections by the potentially deadly fungus ...
WASHINGTON D.C.: The US Supreme Court will hear a trademark dispute over a dog toy shaped like a Jack Daniel's ...
Linebacker Bobby Wagner didn't take long to share his feelings about returning for a second stint with the Seattle Seahawks. ...
The Milwaukee Bucks wore down in a battle of conference leaders on Saturday. They'll look to rebound against a struggling ...
Los Angeles Kings forward Blake Lizotte will have a hearing with the NHL on Sunday for cross-checking Winnipeg Jets defenseman ...
Outfielder Kole Calhoun is back on the free agent market after opting out of his minor league deal with the ...
Detroit Tigers third baseman Tyler Nevin and right-hander Michael Lorenzen will begin the season on the injured list, manager A.J. ...
New Delhi [India], March 26 (ANI): Becoming only the second Indian female to have two World Championships gold medals to ...