STL [NSE: STRTECH], a global data networks innovator, today announced an investment in ASOCS, a developer of open, disruptive and virtualized Radio Access Network (vRAN) solutions, delivering 4G and 5G for cellular networks. As a part of the overall transaction, STL has acquired a 12.8% stake in the company (on an issued and outstanding basis) and Board representation.
ASOCS is a pioneer in virtual Radio Access Networks (vRAN) and a provider of fully virtualized Base Station solutions for Enterprise and Telco-Networks. STL and ASOCS will partner in creating cutting edge solutions that will address the rollout of 5G networks. The future of RAN is evolving to commercial off-the-shelf IT hardware and Open Standards compliant radios which will allow carriers and their customers to enjoy new levels of performance and reliability for delivering mission-critical tasks and localized private networks. It will also allow them to derive benefits of advanced technologies involving AI and analytics across all mobile use cases.
"Open RAN architecture and virtualisation are key to building software-centric networks to meet the exploding demands of networks of tomorrow. The joint solution of STL and ASOCS will empower Mobile Network Operators to build best in class networks and enable them to build vendor-neutral, autonomous mobile networks using 5G radio, SDN, NFV and AI Technologies. We are incredibly excited to invest in ASOCS and believe that the partnership will enable STL and ASOCS to bring end-to-end capabilities for a converged network (i.e. both wireless and wireline) to market. Together, we can offer full stack solutions to Enterprise and Telco customers, including STL's services and system integration capabilities" said Dr. Anand Agarwal, Group CEO STL.
"We are thrilled to partner with STL. Their staunch focus on technology and strong customer relationships will go a long way in delivering flexible and innovative solutions to customers. We will utilise the new funding to accelerate and expand our vRAN 5G portfolio. Now is the right time for mobile operators and their enterprise customers to have an easy, fast way to leverage and get more out of their existing hardware, while enjoying superb 4G and 5G networks that include network slicing capabilities, comprehensive insights on network usage and new levels of control and flexibility, all in a single software stack. As we combine ASOCS and STL solutions, we believe this would be a real turning point for our industry." said Gilad Garon, ASOCS' CEO.
With the partnership between STL - a global leader in Optical networks design and deployment, and ASOCS - a new generation virtualization solution for radio, STL can develop and offer best in class next-generation converged data network solutions, for its Enterprise and Telco customers globally.
Shares of STERLITE TECHNOLOGIES LTD. was last trading in BSE at Rs.124.25 as compared to the previous close of Rs. 119.9. The total number of shares traded during the day was 181406 in over 5710 trades.
The stock hit an intraday high of Rs. 126.2 and intraday low of 122.1. The net turnover during the day was Rs. 22514625.