Bharti Airtel Buys Additional 20% Stake In Lavelle Networks

Telecom giant Bharti Airtel has reportedly acquired an additional 20.6% stake in the SD-WAN startup, Lavelle Networks. Now, the telecom company has an ownership stake of 45.6% in the startup company.

Airtel will acquire the additional stake in the SD-WAN startup in multiple tranches.

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“In furtherance to the earlier communication dated January 31, 2022 and in terms of terms of Regulation 30 of the SEBI Listing Regulations, we wish to inform you that the Company has entered into an agreement resulting in acquisition of aggregate 45.6% stake in Lavelle Networks Private Limited, in which the Company currently holds 25% stake," the company said in its stock filing.

According to reports, the telecom has made this acquisition of stakes under its Startup Accelerator Program, for the support of early stage Indian tech startups. Bharti Airtel share price closed 0.68% higher at ₹891.90 per share on BSE on Tuesday.

Airtel had acquired 25% stake initially in the Bengaluru-based startup in February last year. Other than Airtel, ASM Technologies, which is a global technology services provider, had also followed an investment in Lavelle Network.

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Lavelle Network was founded in 2015 and is a network software startup working in the field of cloud powered technology. The company provides solutions for the optimisation, security and management of enterprise branch networks.

Lavelle’s flagship company  scale-on-SD-WAN platform has connected several thousands of Indian enterprises from the nation's largest financial institutions to e-commerce networks.