Bharti Airtel buys 20.6% stake in Lavelle Networks, total stake to be 45.6%
Summary
Indias leading telecom firm, Bharti Airtel has acquired additional 20.6% stake in the SD-WAN startup, Lavelle Networks. The company provides solution for the optimisation, security and management of enterprise branch networks.Also Read:Airtel Business rejigs its leadership team; CEO Ajay Chitkara to exit in AugustThe companys flagship scaleAon-SD-WAN plaform has connected several thousands of Indian enterprises from the nations largest financial institutions to e-commerce networks. Its product line was launched in 2016-17 and accelerated to a significant market share within the last three years in the early adopters of SD-WAN technology in India.Also Read: Airtel invites customers to experience power of 5G at its storesBharti Airtel had acquired initial 25% stakes in the Bengaluru-based tech startup in February last year. Giants like Reliance Jio and Bharti Airtel are well-placed for a healthy quarter with sales seen to rise by double-digit year-on-year. Kunal Vora of BNP Paribas expects Bharti and Jio to report double-digit sales growth YoY owing to market share gains.Kunal Vora - Head India Equity Research, BNP Paribas in his report said, With stable tariffs for over a year now, we expect the Indian telecom industry revenue growth to moderate to 8- 9% y-y in 1QFY24, assuming an improving subscriber mix as more customers adopt 4G services."
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