Tata Communications on Monday announced the completion of The Switch Enterprises LLC (The Switch) acquisition. The acquisition was undertaken by Tata Communications through its wholly owned international subsidiary Tata Communications (Netherlands) B.V.
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.
With the completion of this transaction, The Switch Enterprises will join the Media and Entertainment Services (MES) business of Tata Communications, which is led by Dhaval Ponda, Global Head of Media and Entertainment Business, Tata Communications.
In a statement, Ponda said, “Tata Communications and The Switch are now a powerhouse with the combination of live production capabilities, global edge platform dedicated for media & entertainment industry along with end-to-end managed services. These are exciting times in the world of video production for us to make a difference for enterprises and engage consumers.”