en.Wedoany.com Reported - The Competition Commission of India (CCI) has approved the transaction involving US-based Alpha Wave Global's acquisition of a partial stake in Nxtra Data, the data center and cloud services arm of Bharti Airtel.
Alpha Wave Global is making this acquisition through its co-managed private equity fund, Alpha Wave Ventures II, LP. The CCI has formally approved the proposed transaction, with the regulator announcing in a public statement that it has cleared Alpha Wave Ventures II, LP's acquisition of certain equity shares in Nxtra Data Limited.
In March this year, Bharti Airtel announced that its subsidiary Nxtra Data had secured a $1 billion investment led by Alpha Wave Global, Carlyle Group, and Anchorage Capital. As part of the agreement, Alpha Wave Global will invest $435 million, with the remaining amount contributed by Carlyle, Anchorage Capital, and Airtel. Upon completion of the transaction, Nxtra is valued at approximately $3.1 billion, and Bharti Airtel will retain controlling interest in Nxtra.
Bharti Airtel stated that the investment in Nxtra Data will be used for AI data center expansion to drive the next phase of growth. Headquartered in New Delhi, Nxtra operates 14 large core data centers and over 120 edge facilities across the country, offering colocation, cloud infrastructure, managed hosting, data backup, disaster recovery, and edge computing services. The company has a facility in Pune and is developing additional AI-ready campuses in Chennai, Mumbai, and Kolkata. Nxtra recently partnered with Google to invest $15 billion in building a gigawatt-scale AI data center campus.
Founded in 2012, Alpha Wave is a global alternative asset management firm. The CCI oversees unfair business practices and promotes fair market competition, and transactions exceeding certain thresholds require its approval.
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