Page 69 - IACC Newsletter August-September 2013 Issue 13

Basic HTML Version

India’s Investments in U.S
Airtel increases stake in Qualcomm-founded 4G firm to 93.45%
Qualcomm Asia Pacific holds 6.55% equity in the company
Telecom major Bharti Airtel has increased its stake in Wireless Business Services (WBSPL), a company founded by US
chipmaker Qualcomm, to 93.45% at an estimated cost of about Rs 875 crore. "As per the revised equity structure, Bharti
Airtel holds 93.45% and Qualcomm Asia Pacific holds 6.55% equity in the company," sources said, citing a communication
from WBSPL to the Department of Telecom.
No immediate comments were received from Airtel, which had earlier said it plans to completely acquire WBSPL by 2014.
WBSPL holds 4G spectrum in four areas, including New Delhi. Airtel acquired a majority stake in WBSPL in July by
increasing its stake to 51% from 49%.
The company had acquired a 49% stake in WBSPL in May 2012 for $165 million. At that price, the additional stake
purchase would have cost Airtel an estimated $143 million, or Rs 875 crore at today's closing exchange rate. WBSPL has
spectrum that can be used for high-speed 4G services in New Delhi, Mumbai, Haryana and Kerala. Airtel has the similar
spectrum in Punjab, Maharashtra, Kolkata and Karnataka.
Airtel has launched 4G services in Bangalore, Pune, Kolkata, Chandigarh, Mohali and Panchkula.
Copyright © 2013, Bennett, Coleman & Co. Ltd. All Rights Reserved.
Data protection firm Druva secures $25 million funding
Druva has secured $25 million in series C funding for its inSync platform
Data protection software provider Druva recently said it has raised $25 million (Rs 154 crore) from Sequoia Capital, Nexus
Venture Partners and Tenaya Capital. Druva has secured $25 million in series C funding for its inSync platform, an
integrated suite of endpoint data protection and governance solutions that currently safeguards corporate information
assets on desktops, laptops, tablets and smartphones in 76 countries, the company said in a release.
This round of funding included significant participation from Sequoia Capital and Nexus Venture Partners as well as a
substantial first-time investment from Tenaya Capital. The new funding will underwrite continued R&D, expanded global
sales and marketing, and expansion of the company's cloud infrastructure to support new deployments, the statement
"With the proliferation of mobile devices and the loss of security and accountability in today's 'post-PC' world, every
organisation today is facing the need to change the way they protect and govern data," Druva founder and CEO Jaspreet
Singh said. "The size of this latest funding round is a direct result of our unified strategy for solving these problems," Singh
Druva's customer ranges from UC Berkeley to Sephora and NASA, and our roadmap for expanding the inSync platform to
become an essential component of the IT infrastructure. "Druva created inSync to address a very real problem in a massive
market. In the process, the company has redefined data protection and governance for the mobile era," Tenaya Capital
Managing Director Tom Banahan said.
Persuant to the development, Banahan has joined the Druva board of directors. He has been a member of the Tenaya
investment team since 1999 and was named to Forbes' Midas List of Top Tech Investors in both 2011 and 2012. "We were