Reliance Industries signs a strategic transfer agreement with Haptik

Reliance Industries signs a strategic transfer agreement with Haptik: Reliance Industries has announced that its subsidiary Reliance Jio Digital Services Limited (RJDSL) has entered into a definitive business transfer agreement with Haptik Infotech (Haptik). The transaction size, including investment for growth and expansion, is estimated at about INR 700 Cr, with INR 230 Cr as the consideration for the initial business transfer. The Haptik team will continue to drive growth of the business, including the enterprise platform as well as digital consumer assistants. On a fully diluted basis Reliance will hold about ~87% of the business with the rest being held by Haptik founders and employees through stock option grants.

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