On Thursday, Radisys Corp, which is under the ownership of Jio Platforms, a subsidiary of Reliance Industries Ltd (RIL), announced that it will be acquiring Mimosa Networks from Airspan Networks Holdings Inc, a US-based IT services company. The purchase will be made on a debt-free, cash-free basis for a sum of $60 million, according to both companies.
“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.
Airspan Networks Holdings Inc has a shareholder in the form of Reliance Jio Infocomm USA Inc, which is a wholly-owned subsidiary of Jio. Moreover, Jio holds a position on the Board of Directors of Airspan.
Radisys, upon acquiring Mimosa Networks, will retain the product development, manufacturing, and sales teams consisting of 56 employees. Meanwhile, Airspan will keep its reseller channel for certain joint 4G/5G and FWA projects, and will also continue marketing Mimosa products to some of its customers even after the acquisition. Both companies have confirmed these arrangements.
Speaking about the transaction, Mathew Oommen, President, Jio said, “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.”
In 2018, Airspan acquired Mimosa with the goal of providing affordable fixed wireless access network connections. Mimosa has an extensive range of products that includes point-to-point and point-to-multi-point solutions, all of which are based on both WiFi 5 and the more recent WiFi 6E technologies. Additionally, the company offers a variety of related accessories, such as PoE Injectors and twist-on antennas. These solutions are useful for 5G backhaul requirements and FTTX/FWA deployments. Jio has been one of Mimosa’s significant clients.