Airtel picks up 20.6% more stake in tech startup Lavelle

economictimes.indiatimes.com:

Bharti Airtel has bought an additional 20.6% stake in Bengaluru-based technology startup Lavelle Networks, taking its holding to 45.6%. The company did not share financial details of the deal. In January last year, Airtel acquired around 25% equity stake in Lavelle Networks. «Agreement has been entered for acquisition of additional 20.6% stake on the basis of price determined by the valuation report. The said valuation has not been disclosed due to the reasons of confidentiality,» Airtel said in a regulatory filing Wednesday. Founded in 2015, Lavelle Networks is a networking software startup that delivers next generation cloud powered technology to optimize, secure and manage enterprise branch networks. Airtel, through its startup accelerator program, aims to support growth of early-stage Indian tech startups and partner with them in building significant scale to achieve its vision.

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The company has been strengthening its network-as-a-service (NaaS) portfolio as enterprises look to deploy software defined networks to support their digital transformation journeys. Lavelle Networks specializes in software-defined wide area network solutions and it serves a range of industry segments. Its platform has connected several thousands of Indian enterprises from the nation's largest financial institutions to e-commerce networks. As part of its NaaS portfolio, Airtel will offer software defined connectivity solution from Lavelle