Bharti Airtel to acquire 25% stake in technology startup Lavelle Networks
The Hindu
In a filing to the stock exchange, the company said that the acquisition of the stake had been done at mutually agreed pre-money enterprise valuation.
Bharti Airtel on Monday said it would acquire 25% equity stake in Bengaluru-based technology startup, Lavelle Networks, which specialises in Software-Defined Wide Area Network (SD-WAN) solutions.
In a filing to the stock exchange, the company said that the acquisition of the stake had been done at mutually agreed pre-money enterprise valuation. “The said valuation is not disclosed herein due to reasons of confidentiality,” it said. “As part of its NaaS [Network as a service] portfolio, Airtel will offer software defined connectivity solutions from Lavelle Networks and co-create a host of innovations as part of its NaaS platform. This also aims to bring “Made in India” products and solutions for enterprises by offering cutting edge technology and cost efficiencies,” the company said in a statement.
Airtel Business’ NaaS is a digital platform which is built to address the emerging connectivity requirements of enterprises as they go through the cloud and digital adoption and acceleration journey.