Tata Communications, a leading provider of a new world of communication, today announced that it has reached an agreement to acquire BT group`s (BT) Mosaic business, which offers an on demand digital media management platform that manages content and workflow from production to distribution across collaborative market ecosystems. The amount of acquisition remains undisclosed.
The Mosaic business, with its service-oriented architecture, helps media customers improve cross enterprise content creation, management and multi format delivery.``The acquisition of the Mosaic platform strengthens our global media and entertainment portfolio with powerful cloud-based digital media management applications that can be accessed over the web. This enhances our existing portfolio of services that we are offering to the media and entertainment sector, `` said Vinod Kumar, president and COO, Tata Communications.
The company's past acquisition includes South africa based Neotel pty Ltd. Tata Communications Ltd. (formerly VSNL) acquired Direct Internet Ltd. (now Tata Communications internet Services Ltd.) and its wholly owned subsidiary Primus Telecommunications India Ltd. (PTIL) for an enterprise valuation of $16.7 million (Rs 750 million).
Recently, Tata Communications tied up with New Zealand-based WiFi company Tomizone to boost the number of Wi-Fi hotspots in India. Shares of Tata Communications gained Rs 2.1, or 0.57%, to trade at Rs 367.65. The total volume of shares traded was 17,320 at the BSE.