S Kalyana Ramanathan / London January 19, 2010
Tata Communications announced today an agreement to acquire the Mosaic business of the BT Group (formerly British Telecom).
Mosaic is a web portal-based on-demand digital media management platform that manages content and workflow from production to distribution across market ecosystems.
Details of the deal, including the acquisition cost have not been disclosed. 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, a release from Tata Communications said.
The Mosaic business helps media customers improve cross-enterprise content creation, management and multi-format delivery. It is targeted at the entire spectrum of media customers encompassing production houses, emerging digital media publishers, content service providers, and TV channels, the company said.
“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. This enhances our existing portfolio of services that we are offering to the media and entertainment sector” said Vinod Kumar, President and COO, Tata Communications.