Stock Report

Airtel acquires stake in Cloud Network Solutions provider Cnergee Technologies

Posted On : 2022-04-27 13:02:45( TIMEZONE : IST )

Airtel acquires stake in Cloud Network Solutions provider Cnergee Technologies

Bharti Airtel ("Airtel"), India's premier communications solutions provider, has acquired a strategic minority stake in cloud-based networking solutions provider Cnergee Technologies under the Airtel Startup Accelerator Program.

Navi Mumbai based Cnergee specializes in integrated networking solutions over cloud for businesses of all sizes. Cnergee has developed a range of 5G ready software tools for Network as a Service (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.

The stake acquisition will enable Airtel to sharpen its NaaS proposition for Small and Medium Businesses (SMBs) who are looking to accelerate their shift to cloud-based applications. Airtel already offers a wide range of connectivity and productivity solutions for SMBs backed by unmatched distribution network reach across India.

In addition, Cnergee's advanced software tools will boost Airtel's 'Work From Anywhere' solutions portfolio as businesses look at adopt hybrid work models in the post pandemic world.

Ajay Chitkara, Director and CEO - Airtel Business said: "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."

Airtel Business serves over one million businesses of all sizes through its integrated portfolio of - connectivity, conferencing, cloud & data centers, cyber security, IoT, Ad-tech, CPaaS (Airtel IQ), and more. It is the market leader in India's enterprise connectivity segment.

Suvarna Kulkarni, Founder and MD - Cnergee Technologies said: "Cnergee has always believed in developing innovative, intelligent and cost efficient cloud based solutions. It is an exciting time for Cnergee to partner with Airtel in this digital transformation journey and reach out to emerging businesses of all sizes driving Digital India."

Airtel Start-up Accelerator Program invests in early-stage start-ups engaged in developing solutions based on new age technologies which also complements Airtel's Digital vision across segments.

Shares of Bharti Airtel Limited was last trading in BSE at Rs. 756.20 as compared to the previous close of Rs. 739.45. The total number of shares traded during the day was 217929 in over 6586 trades.

The stock hit an intraday high of Rs. 758.85 and intraday low of 739.25. The net turnover during the day was Rs. 163341305.00.

Source : Equity Bulls


BhartiAirtel INE397D01024 Acquisition MinorityStake CnergeeTechnologies AirtelStartupAcceleratorProgram