Bharti Airtel has acquired a 10 per cent stake in digital fitness start-up Spectacom Global Private Limited under the Airtel Start-up Accelerator Programme, which focuses on supporting growth of early stage Indian start-ups.
With this, Airtel plans to strengthen its offerings in health and fitness training. The telco will also help Spectacom to increase awareness and adoption of its health and fitness platform and encourage individuals to overcome mental barriers and achieve their full potential.
As per Airtel’s regulatory filing, the transaction is an indirect acquisition of 10 per cent equity stake through wholly-owned subsidiary. Acquisition of the equity shares of investee company has been done at a mutually agreed valuation. However, the said valuation has not been disclosed due to reasons of confidentiality.
Spectacom will be creating training and nutrition videos along with live extreme sporting events that will be delivered by Airtel through its platforms Airtel Xstream and Wynk Music.