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, will buy communications equipment maker Mimosa Networks for $60 million to expand its 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, which owns Mimosa.
Mimosa has a portfolio of point-to-point and point-to-multipoint products based on WiFi 5 and the new WiFi 6E technologies, as well as related accessories, it said.
Through India’s leading telecom service provider Jio, the conglomerate is expanding 5G and broadband services across the country after buying 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, the report said. Reliance has made several investments in the telecom space and last year selected Nokia as its key supplier to expand its next-generation wireless services in India.
The Mimosa deal also comes as some governments, including India, have banned or barred China’s Huawei from using national networks.
The transaction is subject to certain regulatory and other customary closing conditions, as well as the approval of Airspan’s senior lender, and is expected to close in the third quarter of 2023, the statement said.
(Except for the title, this story was not edited by NDTV staff and was published on a syndicated channel.)
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