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Tata Communications has entered into a definitive agreement to acquire The Switch, a provider of end-to-end live streaming and video services. The deal will give Tata access to over 190 countries and territories and a stronger foothold in the American media and entertainment market.
The cash deal is valued at approximately US$58.8 million and is expected to close pending regulatory approval.
Tata’s clients include MotoGP, DP World Tour, World Rally Championship and a variety of other international broadcasters and sports leagues.
“Our combined forces of The Switch’s strong presence in North America and Tata Communications’ global position will create a formidable force in the global media ecosystem to help enterprises take advantage of emerging digital consumption patterns to drive innovation and disruption. In addition, The Switch’s production infrastructure as a service model will allow Tata Communications customers to accelerate the adoption of remote production from any event around the world,” said Tri Pham, chief strategy officer, Tata Communications.
“The team at The Switch has worked hard to create a market-leading live production and transmission offering in the US and beyond. We are extremely proud of what we have achieved and the confidence that Tier 1 media companies have in our services. As the media industry evolves, The Switch continues to play a larger role in future live sports and entertainment and to help our customers maximize their profitable content. With Tata Communications we will accelerate this journey and provide stability, investment and vision to support future growth. I am excited about the future of The Switch and the opportunities this brings to our team and customers,” said Eric Cooney, president & CEO, The Switch.
“The global media & entertainment industry is undergoing a once-in-a-generation digital transformation driven by a fundamental shift in consumer consumption behavior. Tata Communications is helping some of the world’s largest sports federations, broadcasters and OTT platforms manage this disruption through our next-generation digital media platform. With The Switch team, we will be able to develop scalable holistic solutions that will include live and scheduled programming for television, leveraging pre-recorded and archived video for new content creation as well as all post-production. The Switch and Tata Communications teams, together, will help the industry transform to the next level of fan engagement in the venue and at home,” said Dhaval Ponda, global head of Business Media & Entertainment, Tata Communications.
Upon completion of the transaction, The Switch will join the Media and Entertainment Services (MES) business of Tata Communications under Dhaval Ponda.
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