Reliance Jio is set to buy spectrum, fibre, towers and switching nodes from Reliance Communications for more than ₹17,000 crore.
A recent agreement has been signed between Reliance Industries Ltd (RIL) and US-based open telecom solutions provider Radisys Corp. at of $74 million. RIL acquired Radisys in an all cash acquisition aimed at strengthening Reliance Jio’s position in 5G and Internet of Things (IoT). Radisys is said to be delisted after the acquisition.
Nasdaq-listed Radisys is based in Hillsboro, Oregon. The company has about 600 employees with an engineering team in Bengaluru. It also has international sales and support offices. Reports stated that Radisys Corporation and Reliance Industries Limited have entered into a definitive agreement under which Reliance will acquire Radisys for $1.72 per share in cash. Reports also stated that the deal is subject to statutory and regulatory approvals and nod of Radisys’ shareholders. The company will close in the fourth quarter of 2018.
Reliance Industries will fund the transaction through its internal accruals, reports added. Akash Ambani, Reliance Jio’s director stated that Radisys’ top-class management and engineering team will offer their company unique and rapid innovation. He added that it will also be a solution development expertise globally which will complement their work towards software-centric disaggregated networks and platforms. The acquisition will enhance the value to customers across consumer and enterprise segments, Akash concluded.
The acquisition is said to accelerate Reliance Jio’s innovation and technology position. Radisys addition will strengthen Jio’s areas of 5G, IoT and open source architecture adoption. Brian Bronson, Radisys’ CEO stated that their team will continue to work independently on driving its future growth, innovation and expansion. He added that the addition of Reliance’s visionary leadership and strong market position will enhance the company’s ability to develop and integrate large-scale, disruptive, open-centric end-to-end solutions.