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Tata buys Switch for $58.8m
- December 28, 2022
- Steve Rogerson
Tata Communications has acquired New York-based Switch Enterprises, an end-to-end live video production and transmission services provider with reach to top-tier sporting venues in North America.
This will give India-based Tata a foothold in the Americas media and entertainment market, extending its portfolio into live video production and becoming positioned as an end-to-end media ecosystem player in the entire content development value chain globally.
Tata has agreed to acquire a 100% equity stake in Switch Enterprises and certain of its international assets for a value of approximately $58.8m in a cash-only transaction. The closing of the transaction depends on regulatory approvals.
Tata will support Switch customers with global reach to over 190 countries and territories and Switch will bring live production capabilities helping organisations produce high quality, more immersive content faster and more efficiently.
“Our combined forces of 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,” said Tri Pham, chief strategy officer at Tata Communications. “In addition, Switch’s production infrastructure-as-a-service model will allow Tata customers to accelerate adoption of remote production from any event around the world.”
Dhaval Ponda, global head of Tata’s media and entertainment business, added: “The global media and entertainment industry is at a once-in-a-generation digital transformation driven by a fundamental change in consumer consumption behaviour. Tata Communications is already helping some of the largest global sports federations, broadcasters and OTT platforms manage this disruption through our next-generation digital media platform. With the Switch team, we will now be able to develop holistic, scalable solutions encompassing live and scheduled programming for television, leveraging pre-recorded and filed videos for new content creation as well as all post-production. The Switch and Tata teams together will help the industry evolve to the next level of at-venue and at-home fan engagement.”
And Eric Cooney, CEO of Switch, said: “The team at Switch has worked hard creating a market-leading live production and transmission offering in the USA and beyond. We are extremely proud of our achievements and the trust that tier-one media companies place in our services. As the media industry evolves, 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 Switch and the opportunities that this brings to our team and customers.”
Founded in 1991 and headquartered in New York, Switch has been connecting viewers around the world to live events for almost three decades, bringing them the content they want across linear TV, on-demand and streaming platforms on multiple screens and devices.
Switch’s production platform combines mobile and remote services to enable its customers to capture, edit and package compelling, high-quality live coverage. Switch’s delivery network connects production facilities with more than 800 of the world’s largest content producers, distributors, and sports and event venues, seamlessly linking rights holders, broadcasters, streaming platforms, media outlets and web services, and turning-on live content across the world.