Telco player Tata Communications’ Dutch arm has acquired New York-based video production and distribution company The Switch Enterprises LLC for $58.8 million (around ₹486 crore) in an all-cash deal.
In December last year, Tata Communications had entered into a pact to pick up 100% stake in The Switch through its wholly owned indirect subsidiary Tata Communications (Netherlands) B.V., the company said in a statement.
The acquisition will help Tata Communications to support Switch’s customers with global reach, while the latter will bring live production capabilities, helping companies to produce high quality immersive content faster.
Founded in 1991, The Switch Enterprises is a managed services’ providers for live production and video transmission. It produces and delivers live content to any outlet including linear, on-demand and streaming platforms on fiber, satellite or internet.
“Together, we are leveraging the expertise of both companies to bring some never-before-known experiences for fans globally—whether they are playing esports, watching a live tournament or live streaming a concert,” said Dhaval Ponda, global head of media and entertainment business, Tata Communications.
Now, The Switch has joined the media and entertainment services business of Tata Communications under leadership of Ponda, the statement added.
