Tata Communications will acquire New York-based end-to-end live video production company The Switch Enterprises in an all-cash deal for Rs 486 crore, the company said on Thursday. With both companies coming together, Tata Communications will support The Switch customers with global reach to over 190 countries and territories and The Switch will bring live production capabilities helping organisations to produce high quality immersive content faster and efficiently, Tata Communications said in a statement.
"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, USA and, as part of the transaction, through its wholly-owned subsidiaries," Tata Communications said.
The company will acquire the assets of the subsidiaries of Switch Enterprises, LLC based out of Canada, the United States of America and the United Kingdom. Switch Enterprises, LLC, USA, along with its subsidiaries are collectively referred to as 'Switch'.
"The total purchase consideration payable for acquisition of Switch is USD 58.8 million, or Rs 486.3 crore, subject to customary closing adjustments," the company said.
"Our combined forces of The Switch's strong presence in North America and Tata Communications' global position will create a formidable powerhouse in the global media ecosystem helping enterprises harness emerging digital consumption patterns to drive innovation and disruption.
"In addition, The Switch production infrastructure as a service model will allow Tata Communications customers to accelerate adoption of remote production from any event around the world," Tata Communications, Chief Strategy Officer, Tri Pham said.
Acquisition of Switch will provide direct upsell opportunity for Tata Communications' offerings, which will drive incremental expansion of Tata Communications' video connect business as well as expand our leading presence in the media ecosystems in Europe and North America.
"As the media industry evolves, The Switch has an ever larger role to play in the future of live sports and entertainment and in helping our customers maximise their lucrative content. With Tata Communications we will accelerate this journey providing stability, investment and vision in support of future growth," The Switch, President and CEO, Eric Cooney said. PTI PRS MR
FAQs
The acquisition worth Rs 486.6 crore in cash transaction was closed post customary adjustments and regulatory approvals. Tata Communications had entered into a definitive agreement to acquire 100 per cent equity stake in New York-headquartered The Switch Enterprises LLC on 22 December 2022.
Which company is Tata going to buy? ›
Recent acquisitions by Tata
| Acquired on | Acquired Company | Acquisition Price |
|---|
| Jan 28, 2022 | Air India Express | Undisclosed |
| May 14, 2021 | Tata 1mg | $230M |
| Jan 20, 2021 | Bigbasket | $1.14B |
| Nov 06, 2020 | AirAsia | Undisclosed |
8 more rows5 days ago
Tata Communications will acquire New York-based end-to-end live video production company The Switch Enterprises in an all-cash deal for Rs 486 crore, the company said on Thursday.
What is the new name of Tata Communications? ›
Tata Communications Limited (Formerly known as Videsh Sanchar Nigam Limited) was incorporated on 19 March 1986. The Company changed its name from Videsh Sanchar Nigam Limited to Tata Communications Limited on 28 January 2008. The Company is a leading provider of a new world of communications.
What is Tata Communications America? ›
Tata Communications Private Network is an end-to-end digital ecosystem that helps you to achieve your digital transformation objectives.
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Overview of the Top Tata Company Share List in India 2024
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Tata Sons is the principal investment holding company and promoter of Tata companies. 66% of the equity share capital of Tata Sons is held by philanthropic trusts, which support education, health, livelihood generation, and art and culture.
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What is the future plan of Tata? ›
Medium to Long Term Plans of Tata Motors:
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According to analyst recommendations, Tata Communications Ltd Share has a "Buy" rating for the long term.
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In a career spanning 35 years, Amur S Lakshminarayanan has executed a range of leadership roles across industries and geographies, making him uniquely equipped to take on his most notable and challenging endeavour yet — CEO & MD of Tata Communications.
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One of the world's most dynamic and trusted business groups, Tata companies employ over 47,000 Americans and Canadians throughout more than 25 states and provinces.
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An English word, TaTa which means 'Goodbye' is one of the widely used words in our nation and is loaded with immense love, appreciation and respect. However, using the same word in the USA can cause trouble and may land you in jail.
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Tata own 30 companies in different areas
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- Steel: Tata Steel.
- Auto: Tata Motors, Jaguar Land Rover, Tata Autocomp System.
- Consumer & Retail: Tata Chemicals, Tata Consumer Products, Titan Company, Voltas, Infinity Retail, Trent.
Stock Information
| No | Company Name (Company Code) | BSE Price |
|---|
| 1 | Tata Consultancy Services Limited (532540) | 4302.75 (-0.27%) |
| 2 | Tata Steel Limited (500470) | 157.75 (-5.17%) |
| 3 | Tata Motors Limited (500570) | 989.9 (-3.43%) |
| 4 | Titan Company Limited (500114) | 3258.7 (-0.1%) |
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Future Of Travel. Tata Motors is at the forefront of future-ready travel. Electric vehicles (EVs) and autonomous vehicles aren't just trending hashtags of the auto industry, they are big-money investments that are set to change the journey ahead, and Tata Motors is leading the electric mobility evolution in India.
