January 31, 2023 – Austin, TX — Skyvera today announced that it has agreed to acquire the business support, monetization, networking, and analytics solutions business from STL (Sterlite Technologies Limited [NSE: STLTECH]). The divestiture includes telecommunication software capabilities in BSS, monetization, and analytics for communications service providers worldwide. The purchase of the STL telecom products software assets is Skyvera’s 9th acquisition, establishing the company’s position as a “carve-out” specialist and emerging global acquirer of telecommunication software businesses. The transaction will occur via Skyvera’s Indian subsidiary and is expected to close subject to customary closing conditions.
Skyvera, led by CEO Jeff Moyer, is an affiliate of TelcoDR and provides communication service provider (CSP) customers with the software offerings they need to support their businesses. Acquired products are refactored and modernized for use with the public cloud, assisting CSPs on their public cloud journey.
Commenting on this transaction, Ankit Agarwal, Managing Director, STL said, “As we accelerate our focused growth in this decade of network creation, our efforts and capital allocation will be fully aligned towards boosting growth in Optical and Global Services businesses. We will continue to rebalance our portfolio to enhance profitability, increase shareholder value, and drive toward our purpose of transforming billions of lives by connecting the world. We are proud of the value that we have created through our Telecom Products Software business and wish TelcoDR and Skyvera the best for the future.”
Today, the acquired STL telecom software products serve over 60 customers across Asia, Europe, India, Africa, and the Middle East, including Vodafone Idea (India), Emirates Integrated (UAE), Mauritius Telecom (Mauritius), and YTL Communications (Malaysia).
“We are excited about the acquisition of STL’s Telecom Products Software business. The product suite and customer base is a great fit for Skyvera. Its long-term customer relationships and software products will complement our telco software ecosystem,” said Jeff Moyer, CEO, Skyvera. “We look forward to welcoming STL’s customers to the Skyvera family and serving them as they transition towards the public cloud.
About Skyvera and TelcoDR
The telecom industry is on the precipice of a transformational shift – a monumental evolution driven by public cloud adoption – and TelcoDR is catalyzing this change, backed by our $1B Telco Transformation Fund. Founded and led by telecom’s leading public cloud evangelist, Danielle Royston, TelcoDR has raised significant capital to acquire telco software vendors and catapult them to the public cloud through the Skyvera operating unit, as well as through investing in startups like Totogi that are innovating and building truly public cloud-native technology. When TelcoDR’s vision for the telecom industry has been achieved, CSPs will realize massive cost savings, drive tremendous business growth, and dramatically improve customer engagement. Follow TelcoDR on LinkedIn and Twitter. To learn more, visit TelcoDR.com.
TelcoDR PR Team
Sterlite Technologies Ltd: STL is a leading 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
Khushboo Chawla, Head, Communications – STL firstname.lastname@example.org.