Reliance Jio subsidiary Radisys to acquire Mimosa Networks for $60M

Jio Platforms-owned Radisys said it will be acquiring Mimosa Networks from US-based IT services company Airspan Networks Holdings Inc for $60 million to strengthen its expanding 5G and broadband services.

Mimosa has a diverse portfolio of includes point-to-point and point-to-multi-point products based on WiFi 5, the newer WiFi 6E technologies, and related accessories, such as twist-on antennas and PoE injectors. These solutions have use cases in the backhaul requirements for 5G and FTTX/ FWA rollouts. Jio has been a major customer of Mimosa, the company said in a filing.

According to the company's statement, The transaction is subject to certain regulatory and other customary closing conditions, including the US CFIUS review and approval by Airspan’s senior lender and is expected to complete in the third quarter of 2023.

Airspan Networks, which acquired Mimosa in 2018, is a US-based provider of software and hardware for 5G networks.

“Over the years, our collaboration with Airspan has resulted in groundbreaking architectures for high-speed connectivity for both the end user and for 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,” Mathew Oommen, President, Jio said while speaking about the transaction.

“We are excited about this transaction. It not only puts a very capable product team with one of the world’s most innovative and transformative technology and telecommunications companies, but it also strengthens Airspan’s balance sheet enabling the company to pursue 4G and 5G private and MNO networks which have been our main focus,” Eric Stonestrom, Chairman and CEO of Airspan said.

Also Read:

• InCred Capital acquires 20% stake in payroll and HR tech startup TeamNest

Follow IndianStartupNews on Facebook, Instagram, Twitter for the latest updates from the startup ecosystem.