Bharti Airtel acquires a minority stake in Cnergee Technologies, a cloud network solutions company

Business

The equity acquisition will allow Airtel to sharpen its Network as a Service (NaaS) offering for small and medium-sized businesses looking to accelerate their shift to cloud-based applications, it said in a statement

The equity acquisition will allow Airtel to sharpen its Network as a Service (NaaS) offering for small and medium-sized businesses looking to accelerate their shift to cloud-based applications, it said in a statement

New Delhi: Bharti Airtel announced Wednesday that it has acquired a “strategic minority stake” in Mumbai-based cloud-based networking solutions provider Cnergee Technologies as part of the Airtel Startup Accelerator Program.

The equity acquisition will allow Airtel to sharpen its Network as a Service (NaaS) offering for small and medium-sized enterprises (SMEs) looking to accelerate their shift to cloud-based applications, it said in a statement.

According to information shared with the exchange, Bharti Airtel has acquired approximately 7 percent of shares in Cnergee Technologies at an “mutually agreed pre-money company valuation”. The mentioned evaluation is not disclosed here for reasons of confidentiality.”

Cnergee specializes in integrated network solutions over the 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 delivery, centralized remote monitoring and management of all connected devices with a host to enable real-time analysis.

Additionally, Cnergee’s advanced software tools will strengthen Airtel’s “Work From Anywhere” solutions portfolio as companies seek to adopt hybrid working models in the post-pandemic world, it added.

“As organizations migrate to cloud-based applications, software-defined agile networks will become the norm. Airtel is dedicated to accelerating the digital transformation of businesses through our best-in-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 rapidly growing NaaS market in India,” said Ajay Chitkara, Director and CEO – Airtel Business.

The Airtel Start-up Accelerator Program invests in early-stage start-ups dedicated to developing solutions based on new-age technologies.

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