India's Reliance Industries, parent company of Reliance Jio Infocomm has entered into an agreement to acquire NASDAQ listed Radisys for $74 million.
The acquisition will accelerate Reliance Jio's innovations in the areas of 5G, IoT and open source architecture adoption.
Headquartered in the US, Radisys is a leadingprovider of open telecom solutions that enables service providers to drive disruption with new open architecture business models. The company has nearly 600 employees with an engineering team based out of Bangalore, India, and sales and support offices globally.
Radisys delivers value to service providers and telecom equipment vendors by providing disruptive open-centric software, hardware and service capabilities that enable the migration to next-generation network topologies.
Akash Ambani, Director of Reliance Jio
This acquisition further accelerates Jio’s global innovation and technology leadership in the areas of 5G, IOT and open source architecture adoption.
Brian Bronson, CEO of Radisys
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. The Radisys team will continue to work independently on driving its future growth, innovation and expansion.
