Tata Sons Ltd., the holding company of the salt-to-software eponymous group, has announced the formation of Tata Digital to incubate new-age digital businesses.
Pratik Pal, a veteran of the group's software arm Tata Consultancy Services Ltd., has been appointed the chief executive officer of Tata Digital.
"Pal will play a key role in building new growth platforms,” said Tata Sons Chairman N Chandrasekaran in a statement. “His experience and commitment will be very valuable in shaping and developing new opportunities for Tata Group in the digital economy.”
The new entity has been "formed to incubate new digital businesses", Tata Sons said in a separate statement, but did not offer any details on investments in the new venture or the exact contours of the same.
Tata Sons has infused Rs 1,000 crore by way of equity in Tata Digital, Economic Times quoted Chairman Natarajan Chandrasekaran as saying in a Aug. 21 report.
“The company will create a number of digital platforms. We have already identified the platforms we want to create. The first platform is already being built and the next two to three platforms are in the process of being developed,” he told the newspaper.
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