Tata Communications (Netherlands) has signed a definitive agreement to acquire New York-based, “The Switch Enterprises LLC”, which is a major global end-to-end live video production and transmission services provider with access to major sporting venues in North America.
Tech giant and Global digital ecosystem enabler Tata Communications announced on Thursday that its fully owned international subsidiary Tata Communications (Netherlands) has signed a definitive agreement to acquire New York-based, “The Switch Enterprises LLC”, which is a major global end-to-end live video production and transmission services provider with access to major sporting venues in North America.
Tata Communication is a filing to exchanges said, “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,”.
According to the letters of the agreement, Tata Communications has agreed to acquire a 100 percent equity stake in The Switch Enterprises, LLC, and a part of its international assets for a value of approximately INR 486.3 crore in cash.
Tata communication will help Switch users with global reach to over 190 countries after the deal. “The Switch will bring state-of-the-art live production capabilities helping organizations to produce high quality, more immersive content faster and more efficiently,” the company said.
