Airtel Acquires 10 % Stake In Digital Content Firm Spectacom
Bengaluru, India – 13th March 2020: Bharti Airtel under the under the Airtel- Startup Accelerator Programme, has recently acquired a stake of 10 percent in digital content company Spectacom. A move which is believed to have beefed-up Bharti Airtel's offerings in health and fitness training.
Bharti Airtel announced that they will be assisting Spectacom Global to deliver exclusive digital content through its platform Airtel Xtreme and Wynk Music. The proposed digital information reach will allow Airtel's customers, including the
youth in small towns and villages, to make fitness movement a part of the mainstream.
According to an official statement released by Bharti Airtel: "Airtel will work closely with Spectacom to help increase awareness and adoption of its cutting edge health & fitness platform and encourage individuals to overcome mental barriers and achieve their full potential".
Spectacom provides digital content that enables people across languages, locations, and fitness levels to patch up with each other and explore innovative health and fitness training. They are only the second company to join the Airtel-Startup Acceleration Programme after the Bengaluru based start-up Vahaan, with a focus on supporting the growth of early-stage startups. Spectacom was founded by Adnan Adeeb and Zeba Zaidi – both creators of the popular Devil's Circuit Military style obstacle race. Spectacom will be catering to India's growing interest in becoming fitter and healthier by creating fitness training and nutrition videos.
At the end of December 2019, Bharti Airtel had over 283 million mobile subscribers. And according to a study conducted by Fitch, Bharti Airtel is likely to gain an additional 30 million mobile subscribers by the financial year of 2021.
Both Bharti Airtel and Spectacom, however, did not disclose the quantity of stakes and other financial details of the transaction.