Tata Communications will acquire New York-based live video production firm The Switch Enterprises in an all-cash purchase for ₹486 crores, the company announced the deal on Thursday.
When both companies join forces, Tata Communications will support The Switch customers with global reach that spans over 190 countries and territories. The Switch will bring live production capabilities to help organizations create high-quality immersive video content faster and more effectively, Tata Communications said in an announcement.
“Tata Communications (Netherlands) B.V., a wholly-owned indirect subsidiary of Tata Communications Limited, will acquire 100 per cent equity stake of Switch Enterprises, LLC, US and, as part of the transaction, through its wholly-owned subsidiaries,” Tata Communications stated.
The company will buy the assets of its affiliates that are part of Switch Enterprises LLC that are based in Canada, the United States of America and the United Kingdom. Switch Enterprises, LLC, US and their subsidiaries is collectively known as “Switch”.