Tata Communications’ subsidiary to acquire US-based The Switch Enterprises

22 Dec 2022 , 12:55 PM

Tata Communications announced that it has entered into a definitive agreement to acquire The Switch Enterprises LLC through its wholly-owned international subsidiary Tata Communications (Netherlands) B.V.

The Switch, based in New York, is a leading global end-to-end live video production and transmission services provider with access to top-tier sporting venues in North America. 

Tata Communications will gain a strong foothold in the Americas media and entertainment market, expand its portfolio into live video production, and become a unique end-to-end media ecosystem player in the entire content development value chain globally as a result of this transaction.

Tata Communications has agreed to acquire a 100% equity stake in The Switch Enterprises, LLC, and certain of its international assets in a cash-only transaction for approximately US $ 58.8 million (Rs486.30 crore), subject to closing adjustments.

The transaction’s completion is subject to regulatory approval. Tata Communications will provide The Switch customers with global reach to over 190 countries and territories, and The Switch will bring cutting-edge live production capabilities to assist organisations in producing high-quality, immersive content faster and more efficiently.

At around 12.56 PM, Tata Communications was trading at Rs1,260.95, up by 0.85% against the previous close of Rs1,270.95 on NSE. The counter hit an intraday high and low of Rs1,298 and Rs1,250.15 respectively.

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