Bharti Airtel, one of India’s leading telecommunications companies, has announced its acquisition of an additional 20.6% stake in Lavelle Networks Private Limited. With this latest acquisition, Airtel now holds a 45.6% stake in the networking software startup.
The transaction, carried out through Airtel’s Startup Accelerator Program, aims to support the growth of early-stage Indian tech startups and forge strategic partnerships to achieve Airtel’s vision of scaling their businesses. The financial details of the acquisition have not been disclosed due to confidentiality reasons.
Lavelle Networks, founded in 2015, specializes in delivering next-generation cloud-powered technology to optimize and secure enterprise branch networks. Its flagship product, scaleAon- SD-WAN platform, has gained significant traction within the Indian market, connecting numerous enterprises ranging from financial institutions to e-commerce networks.
Over the past three years, Lavelle Networks has experienced substantial growth and a surge in market share as early adopters of SD-WAN technology in India. In the financial year 2021-22, the company’s turnover reached Rs 14.08 crore, up from Rs 10.64 crore in the previous fiscal year.
The shares of Bharti Airtel were trading at Rs 887.40, down by 0.50% at the time of reporting.
By increasing its stake in Lavelle Networks, Airtel strengthens its position in the tech startup ecosystem and reinforces its commitment to supporting and partnering with promising Indian startups. This move allows Airtel to leverage Lavelle Networks’ expertise in networking software and cloud technology, further enhancing their portfolio of innovative solutions for enterprise customers.
As Bharti Airtel continues to expand its investments in the startup space, it solidifies its role as a key player in driving the growth and development of India’s digital economy. Through collaborations and acquisitions like the one with Lavelle Networks, Airtel aims to leverage the transformative power of technology to propel India’s digital transformation journey.
It is evident that Airtel’s acquisition of a majority stake in Lavelle Networks signifies the company’s focus on diversifying its offerings and exploring new avenues for growth. As both companies work together, they are well-positioned to drive innovation and deliver cutting-edge networking solutions that meet the evolving needs of businesses in the digital age.
The future looks promising for Airtel and Lavelle Networks as they join forces to create a robust ecosystem of tech solutions and drive India’s digital revolution forward.
