Mimosa has a portfolio of point-to-point and point-to-multipoint products based on WiFi 5. (File)
Bangalore:
Jio Platforms, owned by Indian conglomerate Reliance Industries Ltd, is buying communications equipment maker Mimosa Networks for $60 million to support its growing 5G and broadband services, the companies said Thursday.
The deal is between Radisys Corp, a division of Jio Platforms, and US-based Airspan Networks Holdings, which owns Mimosa.
Mimosa has a portfolio of point-to-point and point-to-multipoint products based on WiFi 5 and the newer WiFi 6E technologies, as well as related accessories, the statement said.
The conglomerate runs 5G and broadband services across the country through Jio, India’s leading telecom service provider, after winning $11 billion worth of airwaves in a 5G spectrum auction last year.
Confidence Jio Infocomm USA, part of Jio, is a shareholder in Airspan and has a seat on the board of directors, according to the statement. Reliance has made several investments in the telecom space and last year had selected Nokia as a key provider to expand next-generation wireless services across India.
The Mimosa deal also comes at a time when some governments, including India, have banned or discouraged the use of China’s Huawei in national networks.
The transaction is subject to certain regulatory and other customary closing conditions, as well as approval from Airspan’s senior lender, and is expected to close in the third quarter of 2023, the statement said.
(Except for the headline, this story has not been edited by DailyExpertNews staff and is being published from a syndicated feed.)
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