 "Smartlink Network To Sell Digilink To Schneider Electric")
Smartlink Network Systems has said it will sell its Digilink business to Schneider Electric India for Rs 503 crore in cash.
Smartlink Network Systems also said the Digilink business had sales of about Rs 155 crore for the twelve months ended December 31.
The Digilink operations consist of passive networking business including the manufacturing, marketing, and sale of structured cabling products. The deal would include the transfer of Digilink brand and trademarks, manufacturing facility in Goa, distribution network and the employees relating to the business, Smartlink said.
Smartlink Network Systems will not compete in the passive networking business for 5 years.
The company said the sale of Digilink will allow it to accelerate its growth in other existing businesses such as Digisol in the active networking space and Digicare, which has evolved service infrastructure across the country.
It will also explore other business opportunities synergistic to the company, Smartlink said.
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