Airtel teams up with Hughes Communication for VSAT business: Here are the details

Hughes will have majority ownership in the combined entity and Airtel will have a significant shareholding.

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Bharti Airtel and Hughes Communications India Ltd. (HCIL), a subsidiary of Hughes Network Systems which provides broadband satellite networks and services, has announced an agreement to combine their VSAT operations in India.

Airtel teams up with Hughes Communication for VSAT business

 

However, the transaction is subject to approvals by relevant authorities.

As per the agreement, Hughes will have majority ownership in the combined entity and Airtel will have a significant shareholding.

"We are very excited about the synergies that this partnership will bring to the Indian ecosystem. These are exciting times for satellite broadband service providers as VSAT becomes more mainstream, driven by growing demand from both, enterprise and government segments," said Partho Banerjee, President and Managing Director, Hughes Communications India Ltd.

The combined entity will be well positioned to leverage the demand for secure connectivity in a rapidly growing digital economy.

"We are pleased to combine our VSAT operations with Hughes to serve the connectivity needs of Digital India. The partnership will bring amazing synergies to the forefront and combine the proven capabilities of both companies. Customers can look forward to highly secure and reliable connectivity solutions across the length and breadth of India," said Ajay Chitkara, Director and CEO, Airtel Business.

Meanwhile, Bharti Airtel posted 29 percent quarter-on-quarter rise in consolidated profit at Rs. 107.20 crores for March quarter. This is the first profit after several quarters.

Besides seven leading global investors comprising Warburg Pincus, Temasek, Singtel, SoftBank Group International, Qatar Investment Authority (QIA) and others have invested $1.45 Billion in Airtel Africa Limited through primary equity issuance.

Highlights

Bharti Airtel and Hughes Communications India Ltd will combine their VSAT operations in India.

Hughes will have majority ownership in the combined entity and Airtel will have a significant shareholding.

The transaction is subject to approvals by relevant authorities.

Airtel posted 29 percent quarter-on-quarter rise for March quarter.

 

Hughes Communication has also joined hands with BSNL to provide satellite connectivity in Andaman.

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