Jio Platforms Limited subsidiary Radisys Corporation has disclosed its acquisition of Mimosa Networks Inc from AirSpan Networks Holdings for a total of $60 million. The transaction is slated to be finalized in the third quarter of 2023.
Jio, the Indian telecommunications giant, has announced its acquisition of MIMOSA network, a US-based company that specializes in wireless networking. The deal, worth $60 million, is part of Jio’s continued expansion plans, which have seen the company invest heavily in various technological ventures across the globe.
The acquisition of MIMOSA network will help Jio bolster its existing 4G and 5G networks in India and improve the quality of its services. The MIMOSA network uses advanced wireless technology to provide high-speed internet connectivity to its customers, making it a valuable addition to Jio’s portfolio.
Jio’s Chairman and Managing Director, Mukesh Ambani, announced the acquisition on Tuesday, stating that it was a strategic move that would help the company become a global leader in telecommunications. He said, “Jio’s mission is to connect everyone and everything, everywhere – always at the highest quality and the most affordable price. The acquisition of MIMOSA network will help us achieve this goal and further enhance our digital infrastructure.”
MIMOSA network was founded in 2014 and has quickly become a leading provider of wireless networking solutions in the US. The company has developed a proprietary technology called “Massive MIMO,” which allows for high-speed data transfer over long distances without the need for expensive infrastructure. This technology has been used in various applications, including providing wireless internet connectivity to rural areas.
The acquisition of MIMOSA network is not the telco’s first foray into the US market. In 2018, the company acquired Radisys, a US-based company that provides open telecom solutions. The acquisition helped the telco develop its own 5G network in India, making it one of the first companies to offer this service in the country.
The telco’s expansion plans have been fueled by its success in the Indian market, where it has become the largest telecom provider in terms of both subscribers and revenue. The company has disrupted the market with its low-cost data plans and innovative services, such as its JioPhone, a feature phone that offers 4G connectivity and access to various digital services.
The acquisition of MIMOSA network is part of Jio’s broader plan to expand its digital infrastructure and become a global leader in telecommunications. The company has invested heavily in various ventures, including its own app store, e-commerce platform, and digital payments service. Jio’s success has not gone unnoticed, with various global tech companies, including Facebook and Google, investing in the company.
The acquisition of MIMOSA network is expected to be completed in the coming months, subject to regulatory approvals. Once the deal is finalized, Jio will have access to MIMOSA network’s technology and expertise, which will help the company improve its existing services and expand its reach in the US market.
In conclusion, Jio’s acquisition of MIMOSA network is a strategic move that will help the company improve its digital infrastructure and become a global leader in telecommunications. The deal is part of Jio’s broader expansion plans, which have seen the company invest heavily in various technological ventures across the globe. With the acquisition of MIMOSA network, Jio is well-positioned to continue disrupting the telecom market and providing affordable, high-quality services to its customers.