Reliance Jio Platforms today announced that its subsidiary Radisys Corporation will acquire Mimosa Networks from US-based IT services company Airspan Networks Holdings for US$60 million (about Rs 491 crore) on a debt-free, cash-free basis.
Airspan acquired Mimosa in 2018 to target cost-effective fixed wireless access network connections. Mimosa has a diverse portfolio of point-to-point and point-to-multi-point products based on Wi-Fi 5 and the new Wi-Fi 6e technologies as well as related accessories such as twist on antennas, PoE injectors, etc. Is. ,
These solutions have use cases in backhaul requirements for 5G and FTTX/FWA rollout. Jio has been a big customer of Mimosa.
Following the acquisition, Mimosa’s product development, manufacturing and sales team of 56 employees will continue with Mimosa.
Airspan maintains a reseller channel for specific combined 4G/5G and FWA projects and will continue to market Mimosa products to some of its customers following the acquisition.
Jio is a shareholder of Airspan and holds a seat on its board of directors. The transaction is expected to close in the third quarter of 2023, subject to regulatory approval.
Talking about the transaction, Mathew Oommen, President, Jio said:
Over the years, our collaboration with Airspan has resulted in groundbreaking architectures for high-speed connectivity for both end-user and backhaul applications. The acquisition of Mimosa will further accelerate Jio’s innovation and leadership in producing telecom network products that deliver value to consumers and enterprises around the world with cost-effective, rapidly deployable fixed and mobile broadband.
Erik Stonestrom, President and CEO of Airspan, said:
We are excited about this deal. Not only does this place a very capable product team with one of the world’s most innovative and transformative technology and telecommunications companies, it also strengthens Airspan’s balance sheet, allowing the company to further expand its 4G and 5G private and MNO networks. This helps us in increasing our market share which has been our main focus.