Telecom company Bharti Airtel has bought 7 per cent stake in Synergy Technologies, a provider of cloud-based network solutions, as part of its Airtel Startup Accelerator programme.
According to Airtel, this acquisition will enable the company to strengthen its Network as a Service (NaaS) proposition for Small and Medium Businesses (SMBs) who are looking to switch to cloud-based services.
Navi Mumbai-based Synergy provides integrated networking solutions on the cloud for all types of businesses. Airtel has bought the stake through a mutually agreed valuation and has not disclosed the valuation amount citing confidentiality.
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Airtel share price: On Wednesday, the third trading day of the week, the share price fell 0.58 percent. The share price is Rs 751.80. Talking about the market cap, it is Rs 4,12,890.61 crore.