your password has been reset successfully, Please login again.

Sterlite Technologies Ltd Purchases 12.8 Per Cent Stake in ASOCS Ltd

Pune-headquartered firm, Sterlite Technologies Ltd has lately purchased a minority stake in Israel-based virtualized Radio Access Network (vRAN) company, ASOCS Ltd.
BY BEx Bureau
Jan 10, 2020

The Pune-headquartered firm, Sterlite Technologies Ltd has lately purchased a minority stake in Israel-based virtualized Radio Access Network (vRAN) company, ASOCS Ltd. The Israel-headquartered firm renders vRAN solutions for fourth as well as fifth-generation cellular networks.

It (Sterlite Technologies) has bought a 12.8 per cent stake in ASOCS, VC Circle reported citing the companys official statement.

It will make the cash payment in two tranches. It has made the first payment and will make the second payment in May, Sterlite said in its official statement.

The investment will strengthen the companys offerings in the fast-growing vRAN segment, Sterlite stated.

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, the Pune-based company added.

Open RAN architecture and virtualization are key to building software-centric networks to meet the exploding demands of networks of tomorrow, Anand Agarwal, CEO at Sterlite group, said in an interview with the cited media agency.

Sterlite Technologiess shares closed at INR 124.25 apiece on the BSE on Thursday, up 3.63 per cent from the previous close. The stock has traded in the range of INR 301.55 and INR 96.65 apiece over the past 52 weeks, the cited media agency reported.

Please add your Comment
January 25, 2020
The Noida-based payment solutions firm, Pine Labs Pvt. Ltd has secured undisclosed funding from the ...More
By Jaspreet Kaur
January 20, 2020
Invento Robotics has secured INR 2 crore seed funding from ITI Growth Opportunities Venture Fund of ...More
By Jaspreet Kaur
January 16, 2020
Swiggy’s early investors have lately sold its shares to other investors, in turn, receiving high ret ...More
By Jaspreet Kaur
January 06, 2020
The firm is targeting a delivery capacity of over 10 lakh square feet by March 2023 and is also plan ...More
By Jaspreet Kaur
December 24, 2019
The US-headquartered early-stage seed fund led the seed funding round of the startup; it renders the ...More
By Jaspreet Kaur
December 20, 2019
Other investment companies that infused money are Cub McPaws including, Venture Catalysts co-founder ...More
By Jaspreet Kaur
December 20, 2019
Witblox offers robotics-based academic learning for children between the age group of 8-16 years via ...More
By Jaspreet Kaur
November 30, 2019
The microfinance company, CreditAccess Grameen Ltd proclaimed that it will acquire 100 per cent shar ...More
By Ritu Marya
November 19, 2019
Realty investor, Satish Jain via his infra firm, Amour Infrastructure has led the funding round. ...More
By Jaspreet Kaur
November 15, 2019
The funding round has been collectively run by Shunwei Capital and Accel India. ...More
By Jaspreet Kaur
November 15, 2019
Norwest Venture Partners, which has previously infused in Spotify and Uber, has lately closed a larg ...More
By Jaspreet Kaur
November 12, 2019
The company will employ the funds for expanding its business across India by doubling down its bed c ...More
By Jaspreet Kaur