Jio Plaforms acquires US-based Mimosa Networks for $60m

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Radisys, the US-based subsidiary of Jio Platforms, has acquired Mimosa Networks in a US$60 million, cash-free, debt-free deal.

Based in California, Mimosa specializes in providing wireless broadband solutions based on WiFi5 and WiFi6 technologies. The firm was previously under Airspan Networks, having been acquired by the US-based telco in 2018.

Jio Platforms, the mobile network unit of Indian conglomerate Reliance, has been a major customer of Mimosa. It is also a shareholder of Airspan.

Following the acquisition, Mimosa’s product development, manufacturing, and sales teams will remain with the company.

The acquisition is expected to drive Jio’s strategies to provide cost-effective telecom products to consumers and enterprises, according to the firm’s president Matthew Oommen.

The transaction is subject to certain regulatory conditions and is expected to be completed in the third quarter of 2023.

See also: Why is Facebook betting $5.7b on Reliance?

In 2020, Reliance went on a massive fundraising spree for Jio, securing US$25 billion in total from investors like KKR, GIC, and Facebook, as shown by this Tech in Asia visual story. Jio is at the heart of many of Reliance’s businesses, including cloud, marketing, and logistics.

Last month, Jio said it was able to introduce 5G in more than 100 cities in India.