Reliance Industries Limited is set to acquire US-based Radisys, a noted open telecom solutions provider for a whopping $74 million. According to a statement released by Radisys, they have entered into a “definitive agreement” under which RIL will acquire Radisys for “$1.72 per share in cash.”
“Reliance and Jio have been disrupting legacy business models and establishing new global benchmarks. Radisys’ top-class management and engineering team offer Reliance rapid innovation and solution development expertise globally, which complements our work towards software-centric disaggregated networks and platforms, enhancing the value to customers across consumer and enterprise segments,” said Akash Ambani, director of Reliance Jio in a statement. “This acquisition further accelerates Jio’s global innovation and technology leadership in the areas of 5G, internet of things and open source architecture adoption,” he added.
Radisys Corporation, a global leader of open telecom solutions, and Reliance Industries Limited, India’s largest private sector company, have entered into a definitive agreement under which Reliance will acquire Radisys for US$1.72 per share in cash. https://t.co/PQwKb9Achl pic.twitter.com/3vnie2DHoz
— Radisys (@Radisys) July 2, 2018
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Radisys is a Nasdaq-listed company that provides open telecom solutions to service providers worldwide. Headquartered in Hillsboro, Oregon, Radisys has nearly 600 employees with an engineering team based out of Bengaluru, India, and sales and support offices globally. Radisys delivers value to service providers and telecom equipment vendors by providing disruptive open-centric software, hardware and service capabilities that enable the migration to next-generation network topologies.
Brian Bronson, CEO of Radisys said in the statement, “The backing and support of India-based global conglomerate RIL, will accelerate our strategy and the scale required by our customers to further deploy our full suite of products and services. The Radisys team will continue to work independently on driving its future growth, innovation and expansion. The addition of Reliance’s visionary leadership and strong market position will enhance Radisys’ ability to develop and integrate large-scale, disruptive, open-centric end-to-end solutions.”