Bharti buys Max's VSAT biz for Rs 35cr

Bharti Infotel (BIL), a wholly-owned subsidiary of Bharti Tele Ventures, has signed an agreement with Max India to acquire 100% stake in Comsat Max, a leading provider of VSAT and broadband services in India, for Rs 35 crore.

According to a release issued by Bharti to the BSE today, Bharti Infotel is acquiring 100% of C Max Infocom, which holds 100% stake in Comsat Max, from Max India.

"The agreement includes all assets and liabilities of the businesses, including the hubs in Delhi and Mumbai and a data center in Delhi. The hubs in Delhi and Mumbai will complement Bharti's existing hub in Bangalore, and strengthen Bharti's capabilities to deploy VSAT services across the country," the release added.