JOIN USBharti Enterprises on Tuesday sold majority stake in its telecom manufacturing and distribution arm Beetel Teletech to US-based global distribution firm Brightstar for an undisclosed sum.
Sunil Bharti Mittal-led Bharti group ventured into telecom business in 1985 with introduction of Beetel and later diversified services. Bharti Group and Brightstar did not disclose actual stake transacted in Beetel.
"The new mobile business and related technologies that Brightstar is bringing to Beetel will help drive significant growth by leveraging our deep distribution strength," Rakesh Bharti Mittal, Vice Chairman of Bharti Enterprises, said in a statement. Beetel started with making fixed lines phones for telecom public sector unit BSNL, MTNL and Airtel. The company diversified into distribution business.
At present, besides manufacturing, it distributes products of multinational technology companies such as Samsung, Panasonic, Polycom, Avaya, AMX, Extron, RADWIN, Huawei and SanDisk. Beetel has B2B distribution reach in India with more than 500 distributors and partners, 10,000 retailers and 28 warehouses spanning across the country.