Sterlite Technologies to buy UK-based IDS Group by admin- Thursday, September 26th, 2019 05:23:45 PM
Sterlite Technologies has agreed to collect the UK-based Impact Data Solutions Group for an corporation cost of round £12 million ($14.85 million, or Rs. One hundred and five.55 crore at contemporary trade charges).
It has acquired 80% of IDS Group in the first degree and will purchase the stability obtained over the next few years on an earn-out model.
IDS is a information centre layout enterprise. It gives community infrastructure offerings to facts centres and co-location companies.
The Indian digital technology organization said it’s far buying IDS thru thoroughly owned subsidiary Sterlite Global Venture (Mauritius).
Sterlite said the purchase solidifies its role in the cloud and facts centre marketplace, and that the flow might assist it in its mission of increasing its addressable market to $75 billion with the aid of 2023.
IDS caters to conversation offerings providers, organizations and co-vicinity providers. The company became founded in 2009 and has 21 personnel, serving markets in Europe and the United Kingdom.