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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
BusinessEx
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.

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