FILE PHOTO: The Carlyle group logo is displayed in company offices in Tokyo, Japan, October 17, 2018. REUTERS / Issei Kato
BENGALURU (Reuters) – Carlyle to buy 25% stake in Indian telecoms firm Bharti Airtel Ltd data center for $ 235 million, US private equity group said on Wednesday the rapid growth of digital services in India.
The acquisition, by a subsidiary of Carlyle, will give Airxt’s Nxtra Data Ltd a business valuation of approximately $ 1.2 billion, the companies said in a statement. Airtel will own the remaining 75% of Nxtra.
Nxtra, which is building several large data centers across India, will use the proceeds of the agreement to develop its infrastructure, the companies said.
India is experiencing a surge in demand for data centers as more and more companies choose cloud computing, and consumer demand for digital services such as smartphone entertainment continues to grow, they said. added.
Cloud and entertainment services represent the next revenue frontier for traditional telecom operators like Airtel, as voice and data rates in India remain among the cheapest in the world.
Airtel’s local rival Jio, controlled by billionaire Mukesh Ambani, has a connection to Microsoft where he will build data centers hosted on Microsoft’s Azure cloud.
Report by Sachin Ravikumar; Editing by Shailesh Kuber
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