Jio Platforms’ wholly-owned subsidiary, Radisys Corporation, has acquired Mimosa Networks from NYSE-listed Airspan Networks Holdings for $60 million on a debt-free, cash-free basis.
Mimosa offers a range of wireless products based on WiFi5 and the newer WiFi6 technologies and other accessories such as twist on antennas and Power Over Ethernet injectors. They are useful in the rollout of fifth-generation wireless networks.
Jio has been a major customer of Mimosa over the years, while its step-down subsidiary Reliance Jio Infocomm USA Inc, is a shareholder of Airspan and has a seat on its board. Reliance Industries had acquired Radisys in 2018.
The 56-member strong product development, manufacturing and sales team of Mimosa will continue with the company post the acquisition. Airspan, which had acquired Mimosa in 2018, will continue to market Mimosa products to some of its customers even after the acquisition.
Also read: Reliance Jio profit jumps 28% to ₹4,638 crore in Q3 on sustained subscriber additions
Mukesh Ambani-owned Jio Platforms and Airspan have collaborated over the years to develop architecture for high-speed connectivity for both end-users and backhaul applications.
“Acquisition of Mimosa will further accelerate Jio’s innovation and leadership in the production of telecom network products that deliver value to consumers and enterprises across the globe with cost-effective, rapidly deployable fixed and mobile broadband,” a release said.
The transaction is subject to the usual regulatory approvals, including the approval of Airspan’s senior lender.
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