Tata Communications arm acquires 51% in AI firm Commotion for Rs 227 crore

Tata Communications (Netherlands), a wholly owned subsidiary of Tata Communications has acquired a majority 51% stake in Commotions for a total consideration of nearly Rs 227 crore ($ 25.50 million). Commotion is a US-based AI-enterprise SaaS company. .

Of the total consideration, nearly $15.50 million will be utilised towards the purchase of stocks from the promoter group and external Commotion investors, and approximately $10 million will be used for the purpose of capital contribution in Commotion.