Reliance Jio Digital Services Acquires AI Firm Haptik in Rs 700 Crore-deal

Reliance Jio Digital Services Acquires AI Firm Haptik in Rs 700 Crore-deal
Share it ...



– Reliance Jio Digital Services has acquired artificial intelligence firm Haptik in a Rs 700 crore deal

– Reliance will hold about 87 per cent of the business with the rest being held by Haptik founders and employees through stock option grants

– The business transfer agreement has been signed by Reliance Jio Digital Services Limited with Haptik Infotech Pvt Ltd (Haptik)

– “The transaction size, including investment for growth and expansion, is estimated at about Rs 700 crore, with Rs 230 crore as the consideration for the initial business transfer,” the statement said

– Founded in 2013, Haptik is chat based virtual concierge mobile application. It client base includes Samsung, Coca-Cola, Future Retail, KFC, Tata Group, Oyo Rooms and Mahindra Group

CNN-News18 is India’s most awarded English News Channel, and is one of the most respected and dynamic media brands in the country today. CNN-News18 has in a short time, redefined the limits and has set new standards for journalism in Indian news television through its differentiated programming and philosophy of inclusive journalism the spirit of ‘Whatever It Takes’. CNN-News18 continues to be India’s window to the world and world’s window into India. CNN-News18 has been awarded all the prestigious awards in the General News category in the country.

Subscribe our channel for latest news updates: https://www.youtube.com/ibnlive

Follow Us On:
Facebook: https://www.facebook.com/cnnnews18/
Twitter: https://twitter.com/cnnnews18
Website: http://www.news18.com

source