Radisys, a unit of Reliance Jio to acquire Mimosa Networks for $60M

• ByStartupStory     |    March 9, 2023

Indian conglomerate Reliance Industries Ltd’s Jio Platforms is set to acquire Mimosa Networks, a communications equipment maker, for $60 million to strengthen its 5G and broadband services. The deal, which is between Jio Platforms’ unit Radisys Corp and US-based Airspan Networks Holdings, is aimed at expanding Jio’s offerings in the telecommunications sector.

Mimosa Networks offers a range of products based on WiFi 5 and WiFi 6E technologies, including point-to-point and point-to-multi-point options, as well as supporting accessories, according to a statement. The acquisition by Jio Platforms, owned by Reliance Industries Ltd, comes as the Indian telecom service provider increases efforts to expand its 5G and broadband services following a $11 billion investment in 5G spectrum last year. Jio is a shareholder in Airspan Networks Holdings, the parent company of Mimosa, and holds a board seat, the statement added.

 

Reliance Industries Ltd has been actively investing in the telecommunications sector, including selecting Nokia as a primary supplier last year to expand wireless services in India. The acquisition of Mimosa Networks comes amid some governments, such as India, discouraging or banning the use of Huawei in national networks. The deal is subject to regulatory and customary closing conditions, as well as approval by Airspan’s senior lender, and is slated to close in Q3 2023, according to a statement.

Follow Startup Story