M&A

M&A

Tata Communication to acquire US-based Switch Enterprises for $59-M

Press Release   BSE Disclosure  

Tata Communications (Netherlands) B.V., a wholly-owned subsidiary of publicly listed Tata Communications Limited, will acquire 100% equity stake of Switch Enterprises, LLC, US. It will also acquire the assets of the subsidiaries of Switch based out of Canada and the UK. The total purchase consideration for the acquisition o is about USD 58.8 million. Post transaction, Switch Enterprises will join the Media and Entertainment Services (MES) business of Tata Communications. Switch produces and delivers live content to linear, on-demand and streaming platforms across fiber, satellite or internet. It posted a consolidated revenue of USD 81.6 million for the year ended December 31, 2021. The acquisition will provide direct upsell opportunities for Tata Communications' video connect business as well as presence in the media ecosystems in Europe and North America.