Reliance Jio buys chatbot firm Haptik in Rs 700 Crore
Reliance Jio has acquired a majority stake in chatbot platform Haptik in Rs 700-crore deal, which includes an Rs 470-crore investment for future growth of the business over the next four-five years.
Reliance Digital Services has entered into a business transfer agreement with Haptik Infotech for Rs230 crore, after which it will own 87% market stake in the company. Haptik founders Aakrit Vaish and Swapan Rajdev, besides the employees, will own the rest of the stake in Haptik.
The deal will give an exit to majority stake owner Times Internet, which is part of the Times group that published Newspapers. This will be the sixth acquisition of Reliance this year. Spending over Rs 1,479 crores in total, as it charts its expansion in the e-commerce and digital services space. Haptik will be its biggest acquisition in 2019.
With Haptik, Reliance Jio will look to give users a conversational assistant experience like Amazon’s Alex.
Company History- It’s started in 2013, the company has worked with the likes o Grofers, Future Group, Samsung and ICICI Bank. It’s enterprise solutions include customer service, lead generation and user engagement. “This strategic investment underlines our commitment to further boost the digital ecosystem and provide Indian users conversational AI-enabled devices with multi-lingual capabilities. We believe voice interactivity will be the primary mode of interaction for digital India.