Bharti Airtel is acquiring another 20.6% stakes in software defined networking startup Lavelle Networks. This is the second round investment of Airtel in the Bengaluru-based startup.
Previously, the telecom company Bharti Airtel picked up 25% stakes of the Lavelle Networks in January 2022. In a disclosure with the National Stock Exchange (NSE), Bharti Airtel informed that it has entered into an agreement of increasing its stake to 45.6% in Lavelle Networks Private Limited.
While the company didn’t disclose the deal size, the price will be determined on the basis of the valuation report. The acquisition shall be made in multiple tranches for the cash considerations, upon fulfillment of conditions precedent.
Established in 2015, Lavelle Networks is a networking software startup which offers SD-WAN solutions to enterprises and claims three out of five enterprise networks use its services. The five year old company’s operating revenue increased 32.3% to Rs 14.08 crore from Rs 10.64 crore in FY21, as per filings. However, it didn’t disclose its bottomline number for the last fiscal year.
