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  6. Tata Communications Acquires The Switch

M&A Deal Summary

Tata Communications Acquires The Switch

On December 22, 2022, Tata Communications acquired media company The Switch from True Wind Capital

Acquisition Highlights
  • This is Tata Communications’ 1st transaction in the Media sector.
  • This is Tata Communications’ 1st transaction in the United States.
  • This is Tata Communications’ 1st transaction in Massachusetts.

M&A Deal Summary
Date 2022-12-22
Target The Switch
Sector Media
Buyer(s) Tata Communications
Sellers(s) True Wind Capital
Deal Type Add-on Acquisition

Target

The Switch

Osterville, Massachusetts, United States
The Switch has been connecting viewers around the world to live events by bringing them the content they want across linear TV, on-demand, and streaming platforms – on multiple screens and devices. The company's comprehensive production platform combines mobile and remote services to enable its customers to cost-effectively capture, edit and package compelling, high-quality live coverage. Its delivery network connects production facilities with 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. The Switch was formed in 1991 and is based in Osterville, Massachusetts.

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Buyer(S) 1

Buyer

Tata Communications

Mumbai, India
Category Company
Founded 1986
Sector Communications
Employees7,144
Revenue 229.9B INR (2025)
DESCRIPTION

Tata Communications is a global digital ecosystem enabler. The company enables the digital transformation of enterprises globally with collaboration and connected solutions, core and next gen connectivity, cloud hosting and security solutions and media services. Tata Communications was incorporated in 1986 and is based in Mumbai, Maharastra.

DEAL STATS #
Overall 1 of 3
Sector: Media M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 2
State: Massachusetts M&A 1 of 1
Country: United States M&A 1 of 2
Year: 2022 M&A 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-28 Kaleyra

Milan, Italy

Kaleyra is a global group providing mobile communication services to financial institutions, e-commerce players, OTTs, software companies, logistic enablers, healthcare providers, retailers, and other large organizations worldwide. Through its proprietary platform and robust APIs, Kaleyra manages multi-channel integrated communication services, consisting of messaging, rich messaging, and instant messaging, video, push notifications, e-mail, voice services, and chatbots. Kaleyra was founded in 1999 and is based in Milan, Italy.

Buy $100M

Seller(S) 1

SELLER

True Wind Capital

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2015
PE ASSETS 560M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

True Wind Capital Management LLC is a private investment firm focused on technology companies. True Wind pursues a variety of transaction types across all company stages, including management buyouts, growth financings, stake purchases, and venture. True Wind Capital Management was formed in 2015 and is based in San Francisco, California.

DEAL STATS #
Overall 2 of 4
Sector: Media M&A 1 of 1
Type: Add-on Acquisition M&A Deals 2 of 2
State: Massachusetts M&A 1 of 1
Country: United States M&A 2 of 3
Year: 2022 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-22 Sterling Brokers

Toronto, Ontario, Canada

Sterling Brokers is a benefits consulting and administration firm offering group insurance, retirement services, technology-enabled platform solutions and advisory services to Canadian employers. Sterling Brokers was founded in 2014 and is headquartered in Toronto, Ontario.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-03-17 DCM Services

Bloomington, Minnesota, United States

DCM Services is a provider of tech-enabled estate receivables management solutions and SaaS software to multiple end markets, including financial services, healthcare, utilities, telecom, and others. DCM Services was founded in 1998 and is based in Bloomington, Minnesota.

Buy -
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