Indian Holding company Reliance Industries has announced that it has acquired US telecommunications solutions provider Radisys in the aim of bolstering its own telco carrier Jio.
Jio was recorded to have 186.6mn subscribers as of 31 March, adding 83mn during the 2017-2018 financial year.
“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.
Radisys currently employs approximately 600 employees, providing services to telecom network operators around the world.
Further, despite being headquartered in Oregon, Radisys has an engineering team in Bangalore, India and other global offices, meaning geographically synergies between Radisys and Jio should not be an issue.
“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,” said Brian Bronson, CEO of Radisys.
The transaction will see Reliance paying $1.72-per-share in an all cash deal valued at a total $74mn.
Should the deal be approved by both Radisys shareholders and the relevant regulatory bodies, then the acquisition is expected to complete in Q4 2018.