New Delhi: Bharti Airtel on Wednesday said it has acquired a “strategic minority stake” in Mumbai-based cloud-based networking solutions provider Cnergee Technologies under the Airtel Startup Accelerator Program.
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The stake acquisition will enable Airtel to sharpen its Network as a Service (NaaS) proposition for Small and Medium Businesses (SMBs) who are looking to accelerate their shift to cloud-based applications, it said in a statement.
As per information shared with the stock exchange, Bharti Airtel has acquired approximately 7 per cent stake in Cnergee Technologies at “mutually agreed pre-money enterprise valuation. The said valuation is not disclosed herein due to reasons of confidentiality.”
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Cnergee specialises in integrated networking solutions over cloud for businesses of all sizes and has developed a range of 5G ready software tools for NaaS that can be deployed at scale to enable zero touch service provisioning, central remote monitoring, and management of all connected devices with a host of real time analytics.
In addition, Cnergee’s advanced software tools will boost Airtel’s ‘Work From Anywhere’ solutions portfolio as businesses look to adopt hybrid work models in the post pandemic world, it added.
“As businesses move to cloud-based applications, software defined agile networks are becoming the norm. Airtel is on a mission to accelerate the digital transformation journeys of enterprises through our world-class NaaS platform. We welcome Cnergee to the Airtel Startup Accelerator Program and look forward to deploying their ‘Made in India’ solutions at scale in the fast growing NaaS market in India,” Ajay Chitkara, Director and CEO – Airtel Business said.
Airtel Start-up Accelerator Program invests in early-stage start-ups engaged in developing solutions based on new age technologies.