India's largest telecom service provider Airtel has recently completed the acquisition of Augere Wireless.
"The merger of Augere Wireless Broadband India Private Limited (Augere), a wholly-owned subsidiary into Bharti Airtel Limited (Airtel) has been completed," Bharti Airtel said in a BSE filing.
According to sources, the deal size is estimated to be around Rs. 150 crore.
Last year in August, the company had signed an agreement to acquire 100 percent equity stake in Augere and now the telco has 20 Mhz in 2300 Mhz band across 17 service areas.
Augere Wireless holds 20 MHz of spectrum in 2300 MHz band used for 4G services in the telecom circle of Madhya Pradesh and Chhattisgarh (MPCG).
As per the Augere website, established in September 2007 and launched its broadband services under the Qubee brand in Pakistan in July 2007. This was closely followed by the Bangladesh network in October 2009. Today, Augere operates wireless networks comprising more than 800 radio base stations and serves about 125,000 broadband customers.