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Tata Communications acquires US-based Switch Enterprises for ₹486 crore

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Tata communications acquires New York-based end-to-end live video production company The Change company in an all-cash deal for ₹486 crore, the company said on Thursday. With both companies coming together, Tata Communications will support The Switch customers with a global reach in more than 190 countries and territories and The Switch will provide live production capabilities that enable organizations to produce high-quality immersive content faster and more efficiently, Tata Communications said in a statement.

“Tata Communications (Netherlands) BV, a wholly owned indirect subsidiary of Tata Communications Limited, will acquire a 100 percent equity interest in Switch Enterprises, LLCUS and, as part of the transaction, through its wholly owned subsidiaries,” said Tata Communications.

The company will acquire the assets of Switch Enterprises, LLC subsidiaries located in Canada, the United States of America and the United Kingdom. Switch Enterprises, LLC, USA, together with its subsidiaries are collectively referred to as “Switch”.

“The total purchase price to be paid for the acquisition of Switch is USD 58.8 million, or Rs 486.3 crore, subject to customary closing adjustments,” the company said.

“Our combined forces of The Switch’s strong presence in North America and Tata Communications’ global position will create a formidable powerhouse in the global media ecosystem that will help companies leverage emerging digital consumption patterns to drive innovation and disruption.

“In addition, the Switch manufacturing infrastructure-as-a-service model enables Tata Communications customers to accelerate adoption of remote manufacturing from any event around the world,” said Tata Communications, Chief Strategy Officer, Tri Pham.

The acquisition of Switch provides an immediate upsell opportunity for Tata Communications’ offerings, which will drive the incremental expansion of Tata Communications’ video connectivity business, as well as our leading presence in the media ecosystems in Europe and North America.

“As the media industry evolves, The Switch plays an increasing role in the future of live sports and entertainment and in helping our customers maximize their lucrative content. With Tata Communications, we will accelerate this journey through stability, investment and vision to support future growth,” said The Switch, President and CEO, Eric Cooney.

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