Sterlite Technologies to acquire Elitecore Technologies Pvt Ltd
Q. Sterlite Technologies has entered into definitive agreement for acquisition of which telecom software product company on 23rd September 2015?- Published on 24 Sep 15a. Elitecore Technologies Pvt Ltd
b. Supercore Technologies Pvt Ltd
c. Deepcore Technologies Pvt Ltd
d. None of the above
ANSWER: Elitecore Technologies Pvt Ltd
Sterlite Technologies has entered into formal agreement for acquiring Elitecore Technologies Pvt Ltd controlled by private equity major Carlyle Group, for an enterprise value of Rs 180 crore in an all cash deal. Elitecore, a provider of Operations Support Services / Business Support Services is majority owned by First Carlyle Ventures Mauritius, a part of Carlyle Group. Sterlite, a part of Vedanta Group, said this acquisition would widen its telecom portfolio of offerings to its global customers.The present management team of Elitecore will continue. In 2014-15 Elitecore reported revenues of Rs147 crore and EBITDA of Rs16 crore and is cash positive on a net debt basis. Company has been profitable for last 7 years.
