STL agrees to buy optical interconnect company Optotec
STL (NSE: STLTECH) says it has agreed to acquire Italian optical interconnect product provider Optotec S.p.A. The deal sets the enterprise value of the privately held company at €29 million ($33.72 million), funded through a mix of internal accruals and foreign currency debt instruments. STL did not say when the transaction is scheduled to close but noted it’s contingent on the receipt of customary regulatory approvals.
Optotec, led by CEO Claudio Mega, provides optical interconnect products for telecommunication, fiber to the home (FTTH), and cloud network applications in Europe. STL sees these offerings as complementary to STL’s Opticonn line of optical fibers and cables. STL also believes the combination will strengthen its hand in Europe, India, and the Middle East – particularly the former.
"As the investments by operators in fiber network infrastructure accelerate to support next-gen services like 5G, FTTH, and edge cloud, the combination of STL and Optotec will provide our global customers with an enhanced array of innovative products and technologies,” commented Dr. Anand Agarwal, Group CEO at STL. “Claudio Mega and his team have developed an impressive product portfolio and established a market-leading position for Optotec. Most importantly, both Optotec and STL have similar value systems and philosophy of technology and innovation, making this acquisition an ideal fitment into the STL family."
"We at Optotec are incredibly excited to work with STL to scale our business and expand our customer base. STL, with its global customer access and extensive industrial scale is the perfect partner for our growth journey," added Mega.
For related articles, visit the Business Topic Center.
For more information on fiber cabling and suppliers, visit the Lightwave Buyer’s Guide.
To stay abreast of fiber network deployments, subscribe to Lightwave’s Service Providers and Datacom/Data Center newsletters.
Stephen Hardy | Editorial Director and Associate Publisher, Lightwave
Stephen Hardy is editorial director and associate publisher of Lightwave and Broadband Technology Report, part of the Lighting & Technology Group at Endeavor Business Media. Stephen is responsible for establishing and executing editorial strategy across the both brands’ websites, email newsletters, events, and other information products. He has covered the fiber-optics space for more than 20 years, and communications and technology for more than 35 years. During his tenure, Lightwave has received awards from Folio: and the American Society of Business Press Editors (ASBPE) for editorial excellence. Prior to joining Lightwave in 1997, Stephen worked for Telecommunications magazine and the Journal of Electronic Defense.
Stephen has moderated panels at numerous events, including the Optica Executive Forum, ECOC, and SCTE Cable-Tec Expo. He also is program director for the Lightwave Innovation Reviews and the Diamond Technology Reviews.
He has written numerous articles in all aspects of optical communications and fiber-optic networks, including fiber to the home (FTTH), PON, optical components, DWDM, fiber cables, packet optical transport, optical transceivers, lasers, fiber optic testing, and more.
You can connect with Stephen on LinkedIn as well as Twitter.