Reliance Industries (RIL) will acquire Nasdaq-listed telecom solutions provider Radisys Corp. for about $75 million (Rs 510 crore ) in cash, for a further push into Internet of Things (IoT) and 5G through its telecom arm, Reliance Jio Infocomm.
RIL will pay for $1.72 per share in cash for the buyout which is expected to bolster the Mukesh Ambani-owned Jio’s positioning as a technology company, and not just a telecom operator. The buyout has potential synergies to help the oil-to-telecom conglomerate fuel its 5G technology foray, amongst other future plans .
“This acquisition further accelerates (Reliance) Jio’s global innovation and technology leadership in the areas of 5G, IOT and open source architecture adoption,” Akash Ambani, director of Reliance Jio, said in the statement. Read More
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