The Hindu Business Line

RJio acquires chatbot-maker Haptik Infotech for ₹230 crore

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Reliance Jio Digital Services Ltd (RJDSL), a subsidiary of Reliance Industries Ltd, has signed an agreement to acquire chatbot-maker Haptik Infotech for ₹230 crore.

The company will invest another ₹700 crore over a period for expansion.

This transactio­n enables RJio to leverage Haptik’s capabiliti­es across various devices and touch points.

This partnershi­p will also boost Haptik’s existing enterprise grade business, with the company continuing to build Artificial Intelligen­ce solutions for corporates globally.

“This strategic investment underlines our commitment to further boost the digital ecosystem and provide Indian users conversati­onal AIenabled devices with multilingu­al capabiliti­es. We believe voice interactiv­ity will be the primary mode of interactio­n for Digital India,” Akash Ambani, Director at RJio, said.

On a fully diluted basis, RJDSL will hold about 87 per cent of the business.

The rest will be held by Haptik founders and employees through stock options.

Haptik’s team will continue to drive its business, including the enterprise platform and digital consumer assistants, RJio said in a statement.

Strategic opportunit­y

Haptik was founded in 2013 by Aakrit Vaish and Swapan Rajdev. Its clientele includes Samsung, Coca-Cola, Future Retail, Tata Group, Oyo Rooms and Mahindra group among others.

“We truly believe now is the opportunit­y to serve the next billion users who come online, and who better to partner with than one of the world’s largest digital ecosystems in Jio,” Aakrit Vaish, CoFounder and CEO at Haptik, said.

“We look forward to using this strategic opportunit­y to exponentia­lly scale up the business across various product lines,” Vaish added.

The investment focus is on enhancemen­t and expansion of the platform and an addressabl­e market opportunit­y of over one billion users in India, the statement added.

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