India’s largest 4G network service provider, Bharti Airtel, today announced the acquisition of Augere Wireless. Airtel will now own 74% stocks in the Madhya Pradesh based company. Augere Wireless provides 4G network services in the state.
Airtel did not disclose the financial details, though it informed BSE (Bombay Stock Exchange) about the acquisition. Augere has been allowed to operate in Madhya Pradesh and Chhattisgarh, though it has not introduced its services in India yet. The company provides wireless services in Pakistan and Bangladesh as well.
It holds a capacity of 20 MHz with a spectrum of 2.3 GHz in Madhya Pradesh and Chhattisgarh. It provides WiMAX and LTE technologies in Bangladesh and was planning to introduce the same in the states. The spectrum was won by the company for Rs 124.66 crore in 2010.
Augere’s first commercial wireless network was launched under the Qubee brand in Pakistan in July 2009. This was closely followed by the Bangladesh network in October 2009. Today Augere operates wireless networks comprising more than 800 radio base stations.
Augere Wireless is not alone but Airtel also have acquired Qualcomm’s India unit, which had 4G network access in four circles (Including the metros); Airtel won the 20 MHz in 2.3 Ghz spectrum for Rs 3,314.36 crore and now it operates in nine service areas.
According to the sources of Press Trust India, the deal is estimated to be around Rs 150 Crore.
Reliance is also gaining momentum through Reliance Jio and recently acquired Infotel broadband. While Vodafone on the other hand has already started rolling out its services in Kerala.