STL to divest its telecom product software business to Skyvera for $15 million

Sterlite Technologies Limited (STL) has announced its plan to divest its network software, data and analytics, business software – operations support systems and business support systems – and services business unit to Skyvera for a monetary consideration of $15 million. To this end, STL has signed an agreement to sell its telecom product software business via a business transfer agreement, by way of a slump sale as a going concern, to Skyvera through its Indian subsidiary.