Tata Group has signed a deal to acquire 68% stake in bigbasket for about Rs 9,500 crore. The stake will be acquired by Tata Digital, a subsidiary of Tata Sons. Post acquisition, the enterprise value of BigBasket becomes more than Rs 13,500 crore.
Tata Communications has partnered with Google Cloud in India to drive cloud adoption and transform Indian businesses.
Tata Group to Acquire 68% Stake in BigBasket
Key Investors of BigBasket:
i.Alibaba Group Holding Ltd holds 29% stake in BigBasket. The other key investors include Abraaj Group, Ascent Capital, Helion Venture Partners, Bessemer Venture Partners, and Mirae Asset-Naver Asia.
ii.The deal provides an exit route for a host of investors of BigBasket.
Tata Communications Partners with Google Cloud
Provisions of the Partnership:
i.Tata Communications, through its IZO Managed Cloud platform will offer Google Cloud services. This will enable organisations to deploy and access Google Cloud services.
ii.End-to-end services, including cloud architecture planning, workload migration and ongoing operational support will also be provided.
iii.In addition to this, Tata Communication will also provide organisation with services across infrastructure modernisation, data centre transformation, application modernisation, smart analytics, multi-cloud deployments among others.
Cloud capabilities of Tata Communications
The cloud capabilities of Tata Communications are supported by 14 cloud nodes and its tier-1 network, that carries around 30% of the world’s Internet routes.
Note: Tata Communications has partnerships with leading Internet Service Provider (ISP) and major cloud providers.
Recent Related News:
Adani Total Gas & Torrent Gas has acquired 5% stake each in the Indian Gas Exchange (IGX). This is the 1st time stakes of IGX are sold, as it was wholly-owned by the Indian Energy Exchange (IEX). The total 10% stake has been sold for about Rs 7.38 crore.
About Tata Digital:
CEO– Pratik Pal
Headquarters– Mumbai, Maharashtra
About Tata Communications:
MD & CEO– Amur Swaminathan Lakshminarayanan (Lakshmi)
Headquarters– Mumbai, Maharashtra
