Reliance Jio's Subsidiary To Buy US-based Mimosa Networks For $60 M: Report
The deal is between Radisys Corp, a unit of Jio Platforms, and US-based Airspan Networks Holdings, which owns Mimosa, according to media reports
Jio Platforms, owned by Indian conglomerate Reliance Industries is in talks to buy communications equipment maker Mimosa Networks for USD 60 million to bolster its expanding 5G and broadband services, the companies said on Thursday.
The deal is between Radisys Corp, a unit of Jio Platforms, and US-based Airspan Networks Holdings (MIMO.A), which owns Mimosa.
Mimosa has a portfolio of point-to-point and point-to-multi-point products based on WiFi 5 and the newer WiFi 6E technologies, as well as related accessories, the statement said.
The conglomerate via Jio, India's leading telecom service provider, is ramping up 5G and broadband services across the country after snapping up airwaves worth $11 billion in a 5G spectrum auction last year.
Reliance Jio Infocomm USA, a unit of Jio, is a shareholder in Airspan and has a seat on its board, according to the statement.
(With inputs from REUTERS)
