Reliance Industries Ltd is now all set to acquire the Artificial Intelligence based conversational platform Haptik as the company is now looking to make it snap in the technology startup.
Reliance Jio Industries Ltd will now buy the San Francisco and Mumbai based Haptik Inc.
Haptik is the Times Internet Company, according to the report. Times Internet is the digital business arm of the media company Bennett, Coleman and Co Ltd.
The transaction is going to be proposed by the way of a slump sale but did not elaborate on the value of the deal. A slump sale refers to a transaction where an entity is sold for a lump sum amount without even considering the values of the liabilities or assets.
Reliance Jio could embed the Haptik Virtual Assistant across the digital platform which includes the JioSaavn music streaming app, video and some other services that complement its mobile network.
Haptik was founded in the year 2013 by the Aakrit Vaish and Swapan. It provides with an AI-based chatbot that can help the consumers to interact with the virtual organizations and agents with the help of both the voice and text. For the organizations, Haptik solution helps in dealing with the customer service, user engagement, customer feedback, and lead generation.