Reliance Industries to acquire Radisys to boost its 5G presence and IoT

Headquartered in Hillsboro, Oregon, Radisys has nearly 600 employees with an engineering team based out of Bangalore, India.

A man walks past an advertisement of Reliance Industries Limited at a construction site in Mumbai. | Reuters

NEW DELHI: Reliance Industries Ltd (RIL), through its telecom arm Reliance Jio Infocomm will acquire US Based telecom solutions provider Radisys Corp. for about $75 million (Rs 510 crore ) in cash, for a further push into Internet of Things (IoT) and 5G, the company said on Saturday.

“This acquisition further accelerates Jio’s global innovation and technology leadership in the areas of 5G, IOT and open source architecture adoption,” Reliance Jio director Akash Ambani said.

As part of the deal, RIL will pay for $1.72 per share in cash for the buyout. The deal is subject to statutory and regulatory approvals and nod of the Nasdaq listed Radisys’ shareholders. It is slated to close in the fourth quarter of 2018.

Headquartered in Hillsboro, Oregon, Radisys has nearly 600 employees with an engineering team based out of Bangalore, India. The company mainly delivers value to service providers and telecom equipment vendors.

“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,” Brian Bronson, CEO of Radisys, said in the statement.