Google invests $1 billion in AirtelDate: 31 January 2022 Tags: Miscellaneous
Technology major Google will be investing $1 billion in partnership with Indian telecom company Airtel.
Out of $1 billion, about $700 million will be used to buy 1.28 per cent equity stake in the company and $300 million will be used for multi-year commercial agreements.
The investment will be part of Google for India Digitization Fund. It will include equity investment as well as a corpus for potential commercial agreements.
The commercial agreement
Airtel and Google will work together to build on Airtel’s extensive offerings to cover a range of Android-enabled devices to consumers via innovative affordability programmes.
They will work together to remove barriers of owning a smartphone across a range of price points, in partnership with various device manufacturers.
Work on 5G technology
Airtel will deploy Google’s network virtualisation solutions to give a better experience to their customers. It is already using Google’s 5G-ready Evolved Packet Core & Software Defined Network platforms.
Both the companies will collaborate to potentially co-create India-specific network domain use cases for 5G and other standards.
Airtel and Google will also focus on shaping and growing cutting-edge cloud ecosystem in India.
Google investments in India
Earlier, Google has invested $4.5 billion in Reliance Jio. In addition, through its accelerator programme, it has invested in many startups.