The second largest telecom company in the country, on the 27th of April, announced that the company has acquired 7% of Cnergee Technologies. Cnergee Technologies is a start-up based in based in Navi Mumbai founded just over 6 years ago back in April of 2016. Cnergee Technologies is a start-up that provides cloud based and other related solutions to their clients and customers.
The deal has been in the work for the months and all parties finally put pen to paper this week to finalize it but the details have not been revealed to the public due to privacy reasons and regulations.
Bharti Airtel said in their announcement that this deal will allow the company to imprive their network as a service (NaaS) for SMEs that they work with who aim to improve their cloud services.
The start-up has also been priotizing their developments in the field of 5G which will be of paramount importance for Bharti Airtel as they look to reclaim their top spot in the Indian telecom industry from Reliance Jio which took the entire nation by storm when they started their telecom ventures, six years ago, back in 2016.
Currently Airtel works with over a million businesses around the world in the field of telecom, SaaS, NaaS, internet of things and so on.
Cnergee Technologies’ founder and managing director, Suvarna Kulkarni said that he is over the moon with the new deal as it is a great time to be working alongside such a massive and prestigious telecom company as the country is going through a revolution in the world of telecom and communication as India is slowly phasing into a digital world.
Airtel used to be the top dog in the telecom and communication industry and they seemed untouchable. This was until Reliance Industries expanded their horizons and entered into the industry by selling SIM cards to the public with free calls, messages, and 1 GB of mobile data daily for the first few months of its operations. This toppled the entire industry took Reliance Jio to the apex of the race to the top as they kicked Airtel out.
It has been six years and Airtel is still trying to chase Reliance as the gap between the two keeps increasing. With this acquisition, Airtel will be looking to diversify their projects as they look to get back to their previous glory and experience being at the top again.
