The Switch Enterprises successfully acquired by Tata Communications
Tata Communications, a global digital ecosystem enabler, has announced the completion of the acquisition of The Switch Enterprises LLC (The Switch) through its wholly-owned international subsidiary Tata Communications (Netherlands) B.V.
First announced in January this year, the US $58.8 Mn (₹486.3 Crores) cash transaction has been closed post customary adjustments and regulatory approvals.
Tata Communications, through its wholly owned international subsidiary Tata Communications (Netherlands) B.V. entered into a definitive agreement to acquire a 100% equity stake in New York-headquartered The Switch Enterprises LLC on 22nd December 2022.
With the close of this transaction, the combined strength of Tata Communications and The Switch is set to usher in a new world of end-to-end video production and transmission of high-quality, high-speed, and more immersive live video experiences for viewers and fans from event venues and racetracks to screens across varied equipment such as televisions, mobile devices, etc.
Dhaval Ponda, Global Head of Media & Entertainment Business, Tata Communications said: “Tata Communications and The Switch are now a powerhouse with the combination of live production capabilities, global edge platform dedicated for media & entertainment industry along with end-to-end managed services.
“These are exciting times in the world of video production for us to make a difference for enterprises and engage consumers. 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.
“We welcome and wish our colleagues from The Switch all the very best for their future.”
Eric Cooney, President & CEO, The Switch said: “The Switch is a market leader offering live production and transmission services to hundreds of customers in the United States and abroad. This acquisition by Tata Communications is a key milestone in our growth journey and enables us to expand our horizons. Together with Tata Communications, we are excited to step up our customers’ growth journeys, enhance viewer experiences and expand globally.”
With the completion of this transaction, The Switch Enterprises joins the Media and Entertainment Services (MES) business of Tata Communications under the leadership of Dhaval Ponda, Global Head of Media and Entertainment Business, Tata Communications.