Tata Comm buys Mosaic from BT - CIOL News Reports

Tata Comm buys Mosaic from BT

The unaudited value of the gross assets that are the subject of this transaction was Rs. 3.7 crore

Tuesday, January 19, 2010

BANGALORE, INDIA: Tata Communications has announced on Monday that it has agreed to acquire the Mosaic business - which offers an on-demand digital media management platform - of the British Telecom for an undisclosed amount.

Citing a press release from Tata Communications, a Business Standard report said that the unaudited value of the gross assets that are the subject of this transaction was £0.5 million (Rs 3.7 crore) on September 30, 2009.

“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,” said Vinod Kumar, president and COO, Tata Communications.

©CyberMedia News

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