The Reliance Industries subsidiary has paid about $34m to buy out the conversational AI company's investors, including BCC, and will invest the rest in the business.
Telecommunications firm Reliance Jio has acquired a majority stake in India-based personal concierge app developer Haptik for Rs 7bn ($102m), allowing media group Bennett, Coleman & Co (BCC) to exit.
Reliance Jio, a subsidiary of diversified conglomerate Reliance Industries, will take a 87% stake in the business, while the remaining shares will be held by Haptik’s founders and employees.
The deal will involve Reliance Jio paying approximately $33.6m to buy out the company’s existing backers and will invest the rest…
