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 TATA GROUP :  TATA COMMUNICATION WILL ACQUIRE US-BASED SWITCH ENTERPRISES FOR Rs 486 CRORE...


Tata Communications (Netherlands), a wholly-owned indirect subsidiary of Tata Communications, has acquired 100% equity stake in Switch Enterprises (USA) in cash. 

 

  1. The Switch is an end-to-end live video production and transmission services provider. The acquisition of Switch is expected to help in expanding Tata Communications’ video connect business as well as expand the company’s presence in the media ecosystems of Europe and North America. “With this transaction, Tata Communications will gain a strong foothold into America’s media and entertainment market, extend its portfolio into live video production and become uniquely positioned as an end-to-end media ecosystem player in the entire content development value chain globally,” Tata Communications told exchanges.
  2. Apart from acquiring a 100% stake in the company, Tata Communications will also acquire assets of the subsidiaries of Switch Enterprises based out of Canada, the US, and the UK. The Tata group company said that it will extend its portfolio into live video production and aims to be positioned as an end-to-end media ecosystem player. After the deal, Tata Communications will support Switch customers with global reach to over 190 countries and territories. “The Switch will bring state-of-the-art live production capabilities helping organisations to produce high quality, more immersive content faster and more efficiently,” the company said.
  3.  About The Switch Enterprises
  4. In the action-packed world of live video production and delivery, The Switch is always on and always there – setting the industry benchmark for quality, reliability and unmatched levels of service.  Founded in 1991 and headquartered in New York, The Switch has been connecting viewers around the world to live events for almost three decades, bringing them the content they want across linear TV, on-demand and streaming platforms – on multiple screens and devices.
  5. The Switch's comprehensive production platform combines mobile and remote services to enable its customers to cost-effectively capture, edit and package compelling, high-quality live coverage. The Switch's delivery network connects production facilities with 800+ of the world's largest content producers, distributors, and sports and event venues, seamlessly linking rights holders, broadcasters, streaming platforms, media outlets and web services – and turning-on live content across the world.  
  6. About Tata Communications
  7. A part of the Tata Group, Tata Communications (NSE: TATACOMM; BSE: 500483) is a global digital ecosystem enabler powering today's fast-growing digital economy in more than 190 countries and territories. Leading with trust, it enables digital transformation of enterprises globally with collaboration and connected solutions, core and next gen connectivity, cloud hosting and security solutions and media services. 300 of the Fortune 500 companies are its customers and the company connects businesses to 80% of the world's cloud giants.  
  8. Tata Communications will ACQUIRE 100 percent equity stake in The Switch and certain of its international assets for a value of approximately $58.8 million (AED216 million) in a cash transaction to be executed through Tata Communications (Netherlands) BV, its wholly owned international subsidiary.

                 

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