Sterlite Tech partners with UK's Netomnia to fiberise multiple cities for ultra-fast broadband; Stock ends 5% higher

10 Feb 2022 , 03:45 PM

Sterlite Technologies Limited (STL), an industry-leading integrator of digital networks, today announced that it has expanded its partnership with Netomnia, one of the fastest-growing network operators in the United Kingdom. According to the multi-city agreement, STL will provide integrated network deployment services to help Netomnia grow its Ultrafast full-fibre broadband programme in the United Kingdom.

Sterlite Technologies Ltd ended at Rs216.75 per share up by Rs10.6 or 5.14% from its previous closing of Rs206.15 per share on the BSE.

STL brings to the deal more than 10 years and 35,000 km of network deployment experience. Having led large-scale rollouts across tough terrains in India, the company leverages design-led planning, gets professionally trained manpower to the field and uses advanced deployment techniques to the fibre deployment process. These capabilities will enable Netomnia to achieve rapid scale in delivering home passes and ultimately realise reduced Total Cost of Ownership.

The collaboration will greatly contribute to the high-speed broadband revolution of the UK led by exciting new-age players such as Netomnia. With an ambition to provide multi-gigabit broadband to one million premises by 2023, Netomnia has an infrastructure that supports symmetrical (equal upload and download speeds) multi-gigabit services up to 10 Gbps using XGSPON technology.

Jeremy Chelot, CEO, Netomnia, said, “We have an ambitious target for our Ultrafast Full-Fibre broadband and we rely on superfast deployment to reach there by 2023. It is important for us to partner with players who enable us to add advanced capabilities to our rollout and STL, with its innovative and technology-centric approach, brings exactly that to the table.”

Praveen Cherian, CEO, Global Business Services, STL, said, “Netomnia, an exciting new-age company, is one of the UK’s fastest growing broadband players. We are excited to partner with them for their Ultrafast Full-Fibre broadband programme. Our design excellence and service engineering will deliver scale and fast home-pass readiness for Netomnia, which will help them provide superlative digital experience to their customers.”