Reliance Industries Acquires Radisys To Drive Jio’s IoT Business

Reliance Industries, the parent company of Reliance Jio, is acquiring the US based technology firm Radisys which develop solutions around networking, 5G and IoT. The acquisition will help Jio expand its IoT portfolio, for both consumers as well as for enterprises.

“This acquisition further accelerates Jio’s global innovation and technology leadership in the areas of 5G, IOT and open source architecture adoption,” said Aakash Amabni, so of RIL Chairman Mukesh Ambani and Director at Reliance Jio.

Though neither of the firms have disclosed the total value of the transaction, it was announced that Radisys is being sold for $1.72 per share. The transaction will be on a cash deal.

Brian Bronson, CEO of Radisys said, “The backing and support of India-based global conglomerate Reliance, 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 our ability to develop and integrate large-scale, disruptive, open-centric end-to-end solutions.”

Radisys is headquartered in Hillsboro, Oregon and has nearly 600 employees with an engineering team based out of Bangalore, India, and sales and support offices globally. The firm claims to have expertise on open architecture for telecom networks and hopes to pioneer the future connected world through its solutions. The firm 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.

Radisys has reported a consolidated revenue of $26.2 million in first quarter of 2018 compared to $32.3 million the previous quarter.

“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.

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