Jio Platforms, a subsidiary of Reliance Industries in India, announced on Thursday that it would buy Mimosa Networks, a US communications equipment manufacturer, for US $60 million to support its expanding 5G and broadband services.
The deal was concluded between the subsidiary of Jio Platforms, Radisys Corp, and the American Airspan Networks Holdings, which owns Mimosa Networks.
Several companies have announced that Mimosa Networks has a series of point-to-point and point-to-multipoint products and related accessories based on WiFi 5 and updated WiFi 6E technology.
After bidding for US $11 billion of spectrum resources in India’s 5G spectrum auction last year, Reliance Industries is promoting 5G and broadband services nationwide through Reliance Jie, India’s leading telecom service provider.
According to the statement, Reliance Jie Infocomm USA, a subsidiary of Jie, is one of the shareholders of Airspan and has a seat on its board of directors.
Reliance has made many investments in the field of telecommunications, and last year chose Nokia as the main supplier to deploy and expand next-generation wireless communication services in India.
The statement said that the transaction needs to meet certain regulatory and other customary closing conditions, and obtain the approval of the Airspan Senior Lender, and is expected to be completed in the third quarter of 2023.