Tata Communications and The Switch are now a powerhouse, says Ponda
Tata Communications says the US$58.8 million acquisition of New York-headquartered The Switch Enterprises LLC is to bring a more powerful platforms for sports federations and broadcasters.
“We’re gearing to bring more powerful platforms for sports federations and broadcasters to help them deliver fast-paced, always-on and interactive entertainment forms for viewers across borders,” said Tri Pham, Chief Strategy Officer, Tata Communications.
“Immersive video experiences in real-time are going to be the next game changer for enterprises, and our combined expertise will make for a formidable force creating shared value for all,” he said on 1 May 2023.
“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,” said Dhaval Ponda, Global Head of Media & Entertainment Business, Tata Communications.
“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.
“This acquisition by Tata Communications is a key milestone in our growth journey and enables us to expand our horizons,” elaborated Eric Cooney, President & CEO, The Switch.
“Together with Tata Communications, we are excited to step up our customers’ growth journeys, enhance viewer experiences and expand globally.
“The Switch is a market leader offering live production and transmission services to hundreds of customers in the United States and abroad,” he underlined.
The Switch acquisition was through subsidiary Tata Communications (Netherlands) B.V. Tata Communications, through its wholly owned international subsidiary Tata Communications (Netherlands) B.V. entered into a definitive agreement to acquire 100% equity stake in The Switch Enterprises LLC on 22 December 2022.
The US$58.8 million cash transaction has been closed post customary adjustments and regulatory approvals. fiinews.com
