Bharti Airtel acquires 25% stake in Lavelle Networks

Bharti Airtel on Monday announced an agreement to acquire approximate 25% equity stake in Bengaluru based technology start up, Lavelle Networks.

Lavelle Networks specialises in software-defined Wide Area Network (WAN) solutions and it serves a range of industry segments. Its platform has connected several thousands of Indian enterprises from financial institutions to e-commerce networks. As more enterprise move to cloud-based applications to serve their customers in a digital-first eco system, they require on-demand and reliable network connectivity.

Airtel Business' Network as a service (NaaS) is a digital platform, which is built to address the emerging connectivity requirements of enterprises as they go through the cloud & digital adoption and acceleration journey. The acquisition will boost Airtel Business' Network-as-a-Service (NaaS) portfolio as enterprises look to deploy software defined networks to support their digital transformation journeys.

 

Ajay Chitkara, director and CEO of Airtel Business said, We are pleased to support Lavelle's growth journey and excited to collaborate with them to take their world-class solutions to enterprise customers in the fast growing Indian NaaS market. With our end-to-end solutions play and brand trust, we are uniquely positioned to serve the needs of India's fast growing digital economy.

Shyamal Kumar, co-founder & CEO, Lavelle Networks said, "Digital India's businesses are racing away to applications, cloud and software. Connecting all of this together are our enterprise data networks. We are extremely excited that our product and early market success will now be massively accelerated by this transformational partnership with Airtel."

Bharti Airtel is a global communications solutions provider with over 480 Mn customers in 17 countries across South Asia and Africa. Airtel is India's largest integrated communications solutions provider and the second largest mobile operator in Africa.

On a consolidated basis, Bharti Airtel posted a net profit of Rs 1,134 crore in Q2 FY22 as against a net loss of Rs 763.2 crore in Q2 FY21. It posted quarterly revenues of Rs 28,326 crore, rising 13% YoY on a reported basis.

Shares of Bharti Airtel were trading 1.96% higher at Rs 729.95 on BSE

Powered by Capital Market - Live News