Tata Communications’ wholly-owned indirect subsidiary -- Tata Communications (Netherlands) B.V. has entered into a Membership Investment Purchase Agreement to acquire 100% equity stake in Switch Enterprises, LLC, (a target company in the United States of 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 around $58.8 million (Rs 486.3 crore) in a cash. 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.
Tata Communications along with its subsidiaries is a leading global provider of A New World of Communications.
| Company Name | CMP |
|---|---|
| Bharti Airtel | 1846.55 |
| Vodafone Idea | 9.62 |
| Indus Towers | 412.35 |
| Tata Communications | 1521.05 |
| Bharti Hexacom Ltd. | 1538.30 |
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