– 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
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