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PRNewswire
Mumbai (Maharashtra) [India], April 1: STL (NSE: STLTECH), a leading optical and digital solutions company, has completed the demerger of its Global Services Business. The services business will transition from Sterlite Technologies (STL) to STL Networks under the brand name 'Invenia'. This milestone marks the culmination of a strategic initiative to create two specialised, future-ready organisations poised for accelerated growth. - Drives strategic growth for two business entities- The new demerged entity is to be named STL Networks with the brand name 'Invenia'- STL Networks enables digital transformation by providing state-of-the-art system integration services and future-ready digital solutions STL's demerged entity (now STL Networks) has delivered substantial value to its customers over the past decade. With its capability to build large-scale, IT infrastructure-led digital ecosystems, the business has been making significant strides in India and the UK. It has played a pivotal role in India's digital growth story, blending the spirit of nation-building and digital infrastructure creation. Over 1.35 lakh km of Optical Fibre network have been deployed nationwide in 23 states, positioning STL Networks as a trusted partner for delivering critical connectivity solutions. This demerger is aligned with the long-term strategy of creating two highly specialised entities. This demerger will enable STL and STL Networks--to grow independently with enhanced agility and sharper focus on their respective customer segments, creating strong, distinct platforms for future growth. This will also bring more value to investors and strategic partners with a specific interest in the services business. Both businesses will have dedicated leadership teams with proven track records, ensuring a smooth transition and continued success. Rahul Puri will lead as the CEO of Optical Networking Business at STL, and Pankaj Malik will be the CEO of STL Networks. With 10+ manufacturing plants globally and a customer base spanning 100+ countries, STL is poised to lead the next wave of digital infrastructure innovation. As a trailblazer in Optical Networking, Optical Connectivity, Data Centres, and Enterprise solutions, STL will keep innovating with state-of-the-art products like Optical Fibre, Fibre Cable, and Optical Connectivity--engineered to set new benchmarks and power tomorrow's connected ecosystems. The demerged entity STL Networks, with its expertise in large-scale deployments, will further strengthen its portfolio in the global digital infrastructure and services space that will enable enterprises, telecom companies, cloud service providers, government, and defense. The recently awarded INR ~2600 Cr Bharatnet project in Jammu and Kashmir will be part of STL Networks post demerger. The demerger is anticipated to drive profitability, enhance operational efficiency, and provide a more compelling investment opportunity for shareholders. Ankit Agarwal, Managing Director of STL, commented, "The completion of this demerger marks a pivotal moment in our strategic roadmap. This transition empowers STL and STL Networks to operate with greater focus, agility, and independence, creating exceptional value for all stakeholders. STL remains committed to pioneering optical solutions and driving customer-centricity, while STL Networks is now uniquely positioned to redefine global services with agility. This new structure will drive sustained growth, operational efficiency, and shareholder returns for both entities." About STL Networks STL Networks, with the brand name Invenia, is a leading global digital infrastructure and IT services company. We enable enterprises, telcos, cloud service providers, government, and defense with advanced capabilities in designing, building, managing, and transforming future-ready digital landscapes.. About STL - Sterlite Technologies Ltd STL is a leading global optical and digital solutions company providing advanced offerings to build 5G, Rural, FTTx, Enterprise and Data Centre networks. Read more, Contact us, stl.tech | Twitter | LinkedIn | YouTube For more information, contact: Media RelationsShaily Rai Sinhashaily.sinha@stl.tech Investor RelationsAjay Jhanjhariinvestor@stl.tech Logo: https://mma.prnewswire.com/media/2259921/4968402/STL_Logo.jpg (ADVERTORIAL DISCLAIMER: The above press release has been provided by PRNewswire. ANI will not be responsible in any way for the content of the same)
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