Tata Communications has recently announced that the company has acquired The Switch Enterprises. This other company is New York-based and is specialized in live video production and transmission services.

The aim for this transaction for Tata is to gain foothold into the Americas media and entertainment market, extend its portfolio into live video production and become positioned as a media ecosystem player.

The Indian company has agreed to purchase 100% equity stake in The Switch Enterprises over the value of US $58.8 Mn. The closing of the transaction is dependent upon regulatory approvals.

Speaking on the occasion, Eric Cooney, President & CEO, The Switch said, “As the media industry evolves, The Switch has an ever larger role to play in the future of live sports and entertainment and in helping our customers maximise their lucrative content. With Tata Communications we will accelerate this journey providing stability, investment and vision in support of future growth. I am excited for the future of The Switch and the opportunities that this brings to our team and customers.”

Announcing the acquisition, Tri Pham, Chief Strategy Officer, Tata Communications said, “Our combined forces of The Switch’s strong presence in North America and Tata Communications’ global position will create a formidable powerhouse in the global media ecosystem helping enterprises harness emerging digital consumption patterns to drive innovation and disruption. In addition, The Switch production infrastructure as a service model will allow Tata Communications customers to accelerate adoption of remote production from any event around the world.”