Reliance Jio to acquire U.S.-based Mimosa Networks for $60mn

CIOTechOutlook Team | Friday, 10 March 2023, 02:56 IST

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The acquisition of Mimosa Networks by Jio Platforms, a subsidiary of Reliance Industries Ltd.'s Indian conglomerate, would cost $60 million and will help Jio Platforms' rapidly growing 5G and internet offerings.
 
The agreement is between Mimosa's owner, US-based Airspan Networks Holdings, and Radisys Corp, a division of Jio Platforms.
 
According to reports, Mimosa offers a range of point-to-point and point-to-multipoint solutions based on WiFi 5 and the more recent WiFi 6E technology, as well as complementary accessories.
 
The company, through Jio, is expanding 5G and broadband services throughout the nation after purchasing airwaves worth $11 billion in a 5G spectrum auction last year. Jio is India's top telecom service provider.
 
Reliance According to the statement, Jio Infocomm USA, a division of Jio, is a shareholder in Airspan and holds a seat on its board. Reliance has made a number of investments in the telecom sector, and last year it selected Nokia as a key partner to help it spread next-generation wireless services throughout India.
 
The Mimosa agreement also takes place at a time when certain governments, including India, have either outright forbidden or strongly advised against using Huawei products in their national networks.
 
The deal is anticipated to close in the third quarter of 2023, subject to a few regulatory and customary closing conditions as well as the consent of Airspan's senior lender.
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