M&A

M&A

Cisco in talks to buy Airtel-Vi JV FireFly Networks for Rs.200-Cr

Economic Times  

Cisco Systems is in talks to buy out Airtel-Vodafone Idea's WiFi joint venture (JV) ar an enterprise value of INR 200 crore. Cisco is likely to retain the existing management of FireFly Networks, led by its chief executive officer Raj Sethia, a former Vodafone executive. The Airtel-Vodafone Idea JV was set up in 2014. FireFly focuses on the B2B market and counts Airport Authority of India, Supreme Court of India, GMR, Fortis and DLF Cyber among its partners. The company has WiFi infrastructure deployed at 650 venues with 10,000 access points across 40 cities.