Mimosa was acquired by Airspan in 2018 to target cost effective fixed wireless access network connections.
New Delhi: Radisys Corp, a unit of Reliance Industries Limited-owned Jio Platforms will acquire communications equipment maker Mimosa Networks on a debt-free, cash-free basis to bolster its expanding 5G and broadband services, the companies said on Thursday.
The $60 million deal is between Radisys Corp and US-based Airspan Networks Holdings which owns Mimosa.
Mimosa has a portfolio of point-to-point and point-to-multi-point products based on WiFi 5 and the newer WiFi 6E technologies, as well as related accessories, the statement said.
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“Today, Airspan Networks Holdings (Airspan) and Radisys Corporation (Radisys), a wholly owned subsidiary of Jio Platforms Limited (Jio), announced the sale of Mimosa Networks, Inc. (Mimosa) to Radisys for $60 million on a debt free, cash free basis,” as per the statement.
“Acquisition of Mimosa will further accelerate Jio’s innovation and leadership in the production of telecom network products that deliver value to consumers and enterprises across the globe with cost-effective, rapidly deployable fixed and mobile broadband,” said Mathew Oommen, President, Jio Platforms.
According to the statement, Reliance Jio Infocomm USA, a unit of Jio, is a shareholder in Airspan and has a seat on its board. Reliance Industries, via Jio, India’s leading telecom service provider, is ramping up 5G and broadband services across the country after snapping up airwaves worth $11 billion in a 5G spectrum auction last year.
Mimosa was acquired by Airspan in 2018 to target cost effective fixed wireless access network connections. In addition to a diverse portfolio of point-to-point and point-to-multi-point products based on WiFi 5 and the newer WiFi 6E technologies, Mimosa also has related accessories, such as twist on antennas, PoE Injectors, et cetera.
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During rollouts of 5G and FTTX/FWA, these solutions could find major use. Jio has reportedly been a major customer of Mimosa.
Reliance Industries, that has been making several investments in the Indian telecom space, had chosen Nokia as a major supplier last year to expand next-generation wireless services across India. Reliance’s deal with Mimosa is significant otherwise too because it comes at a time when some governments, including India, have either banned or discouraged the use of China’s Huawei in national networks.
The statement also said that the transaction between the companies is subject to certain regulatory and other customary closing conditions, as well as approval by Airspan’s senior lender and is expected to complete in the third quarter of 2023.
