Reliance Jio Digital Services Ltd. has acquired artificial intelligence firm Haptik for Rs. 700 crore deal, holding about 87 percent of the business. Rest 13 percent will be held by Haptik founders and employees through stock option grants.
Akash Ambani, Director of Reliance Jio, said in a statement, “We believe voice interactivity will be the primary mode of interaction for digital India. We are delighted to announce this partnership and look forward to working with the experienced team of Haptik in realizing this vision for offering greater connectivity and rich communication experiences to the over billion Indian consumers.”
Haptik is a chat-based virtual mobile application. Its client base includes Samsung, KFC, Future Retail, Coca-Cola, Oyo Rooms, Tata Group, and Mahindra Group. The agreement has been signed by Reliance Jio Digital Services with Haptik Infotech Pvt Ltd.
“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.
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