Tata Comm to acquire New York-headquartered, The Switch

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

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

With this transaction, Tata Communications will gain a strong foothold into the Americas 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.

Under the terms of the agreement, Tata Communications has agreed to acquire 100% equity stake in The Switch Enterprises, LLC and certain of its international assets for a value of approximately US 58.8 million (Rs 486.3 crore) in cash (subject to customary closing adjustments) only transaction.

The closing of the transaction is dependent upon regulatory approvals.

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 state of the art live production capabilities helping organisations to produce high quality, more immersive content faster and more efficiently.

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