Highlights -Google to invest $1 Billion in partnership with Airtel
Google announced planned to invest $10 billion in India via its digitization fund, around two years ago.
Google will invest up to $1 billion (roughly Rs. 7,510 crores) in Bharti Airtel in a move that will shape India’s Digital Ecosystem. This deal also includes an investment of $700 million which will allow Google to acquire a 1.28 percent stake in Airtel and the rest of $300 million will go towards a multi-year commercial agreement, as per reports.
Bharti Airtel shares jumped up to 0.54 percent at Rs. 711 after the announcement of this partnership with Google.
Airtel and Google will work together to bring best-in-class end-to-end products and services for customer needs, by providing a quality customer experience. The duo will work together to solve problems of affordability, access, and digital inclusion.
The companies said in a statement that they do realize the requirement of a “Connected India” in bolstering businesses in India as they progress on their Digital Transformation journeys. Need of building a strong digital ecosystem for customers, available everywhere.
Google will support Airtel in manufacturing a range of affordable Android-based devices. In the statement, Airtel and Google gave clue that the duo, will be working together for making affordable smartphones in India.
The duo will also work together towards the cloud ecosystem in India, to accelerate their digital transformation journeys.
Airtel and Google have planned to work on the use cases of the 5G network ad other domains as well. Airtel is using Google’s 5G-ready Evolved Packet Core and Software-Defined Network platforms and has planning to further expand the deployment of Google’s network virtualization(Cloud technology) to deliver the best network quality to consumers.
