Mimosa Networks was purchased by Radisys, a Jio Platforms company with US headquarters, for US $60 million in cash and no debt.
Mimosa is a California-based company that specialises in offering WiFi5 and WiFi6-based wireless broadband solutions. The company was once owned by Airspan Networks until being purchased by the US-based telecom in 2018.
A significant client of Mimosa is Jio Platforms, the mobile network division of the Indian conglomerate Reliance. Moreover, it has stock in Airspan.
The teams responsible for the development, production, and sales of Mimosa’s products will stay on staff after the acquisition.
According to the company’s president Matthew Oommen, the purchase would support Jio’s plans to provide consumers and businesses cellular offerings that are affordable.
The deal, which still has to pass several regulatory hurdles, should close in the third quarter of 2023.
According to sources, Reliance embarked on a large fundraising campaign for Jio in 2020, garnering a total of US $25 billion from backers like KKR, GIC, and Facebook. The foundation of several of Reliance’s operations, including cloud, marketing, and logistics, is Jio.
The launch of 5G in more than 100 Indian cities was announced by Jio last month.