Key Points of Radisys Corp – Mimosa Networks Deal:
- Radisys Corp, a subsidiary of Jio Platforms owned by Reliance Industries Ltd (RIL), is acquiring Mimosa Networks from Airspan Networks Holdings Inc for $60 million.
- The deal will be completed on a debt-free, cash-free basis.
- Reliance Jio Infocomm USA Inc, a subsidiary of Jio, holds a stake in Airspan and has a position on its Board of Directors.
- Mimosa’s 56-member product development, manufacturing, and sales teams will be retained by Radisys after the acquisition.
- Airspan will continue to operate as a reseller channel for joint 4G/5G and FWA projects and market Mimosa products to some customers even after the acquisition.
- The acquisition will boost Jio’s innovation and leadership in producing telecom network products that deliver value to consumers and businesses worldwide.
- Mimosa’s product portfolio includes a range of point-to-point and point-to-multi-point products based on WiFi 5 and WiFi 6E technologies, along with complementary accessories.
- Jio has been a significant customer of Mimosa in the past, and the acquisition aligns with Airspan’s goal of offering cost-effective fixed wireless access network connections.
Details of Radisys Corp – Mimosa Networks Deal:
On Thursday, Radisys Corp, a subsidiary of Jio Platforms owned by Reliance Industries Ltd (RIL), announced its acquisition of Mimosa Networks from Airspan Networks Holdings Inc, a U.S.-based IT services company. The deal is valued at $60 million and will be completed on a debt-free, cash-free basis.
Airspan Networks Holdings and Radisys Corporation, a subsidiary of Jio Platforms Limited, have jointly announced the sale of Mimosa Networks, Inc. to Radisys for $60 million on a debt-free, cash-free basis, according to a statement. Reliance Jio Infocomm USA Inc, which is a wholly owned step-down subsidiary of Jio, holds a stake in Airspan and has a position on its Board of Directors.
Radisys will retain Mimosa’s 56-member product development, manufacturing, and sales teams after the acquisition, as per the statement released by the companies. Additionally, Airspan will continue to operate as a reseller channel for joint 4G/5G and FWA projects, and market Mimosa products to some of its customers even after the acquisition.
Mathew Oommen, the President of Jio, commented on the acquisition, stating that it would boost Jio’s innovation and leadership in producing telecom network products that deliver value to consumers and businesses worldwide with cost-effective, quickly deployable fixed and mobile broadband.
Airspan Networks had acquired Mimosa in 2018 with a goal of offering cost-effective fixed wireless access network connections. Mimosa’s product portfolio includes a range of point-to-point and point-to-multi-point products based on WiFi 5 and the newer WiFi 6E technologies, along with complementary accessories such as twist-on antennas and PoE injectors. These solutions have practical applications in backhaul requirements for 5G and FTTX/FWA deployments. Jio has been a significant customer of Mimosa in the past.
About Reliance:
Reliance Industries Ltd is an Indian multinational conglomerate company, headquartered in Mumbai. It has diverse businesses including energy, petrochemicals, natural gas, retail, telecommunications, mass media, and textiles.
About Radisys Corporation:
Radisys Corporation is an American technology company located in Hillsboro, Oregon, United States that makes technology used by telecommunications companies in mobile networks. Founded in 1987 in Oregon by former employees of Intel, the company went public in 1995.
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