Tata Communications closes $59m acquisition of Switch Enterprises
Tata Communications has closed the previously announced $58.8 million (INR 486.3 crores) acquisition of Switch Enterprises, a New York-based end-to-end live video production and transmission services provider.
The all-cash deal, which was announced in December 2022, was executed by the Indian company’s fully-owned subsidiary Tata Communications (Netherlands).
Eric Cooney — Switch Enterprises President and CEO 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.”
Switch Enterprises will now join Tata Communications’ Media and Entertainment Services (MES) business operating under Dhaval Ponda, who is the latter’s global head of the MES unit.
Tata Communications said that with the deal closed, its strength combined with that of Switch Enterprises is expected to prosper in a new world of end-to-end video production and transmission of live video experiences that are high-quality, high-speed, and more immersive for fans and viewers from racetracks and event venues to screens across varied equipment such as mobile devices, televisions, and others.
Dhaval Ponda 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.”