(RTTNews) - Tata Communications Limited (TATACOMM.NS), Thursday announced the acquisition of 51 percent stake in Commotion Inc., an AI-native Enterprise SaaS Platform company. The financial terms of the deal have not been disclosed.
The cash-only deal will be executed on a fully diluted basis through a Stock Purchase Agreement.
Under this acquisition, Commotion's capabilities will be integrated with Tata's Digital Fabric, which is expected to boost the latter's own AI adoption and advance its journey to becoming an AI-first organization.
Tata Communications' shares closed trading at INR 1,846.80, down 0.97 percent on the National Stock Exchange.
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