Reliance Jio Digital Services has acquired artificial intelligence firm Haptik in aRs 700 crore deal.
Reliance will hold about 87 percent of the business with therest being held by Haptik founders and employees through stock option grants.
“We believe voice interactivity will be the primarymode of interaction for Digital India.
“We are delighted to announce this partnership, andlook forward to working with the experienced team of Haptik in realising thisvision for offering greater connectivity and rich communication experiences tothe over billion Indian consumers,” Reliance Jio Director AkashAmbani saidin a statement.
The business transfer agreement has been signed by RelianceJio Digital Services Limited with HaptikInfotechPvt 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.