M&A

M&A

Reliance Jio subsidiary Radisys to buy US co Mimosa Networks for $60-M

BSE Disclosure  

Radisys Corporation, a wholly-owned subsidiary of Jio Platforms Ltd, is to buy California, US-based Mimosa Networks, Inc from Airspan Networks Holdings for USD 60 million on a debt free, cash free basis. Post-acquisition, Mimosa's product development, manufacturing, and sales teams of 56 employees will continue to work with the firm. PJT Partners acted as the financial advisor while Cravath, Swaine & Moore LLP and Dorsey & Whitney LLP acted as legal advisors to Airspan. Covington & Burling LLP acted as legal advisors, and Ernst & Young, as the accounting and tax diligence advisor to Radisys. Mimosa has a diverse 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, such as twist on antennas, PoE Injectors, etc. These solutions have use cases in the backhaul requirements for 5G and FTTX/ FWA rollouts. Airspan acquired Mimosa in 2018 to target cost effective fixed wireless access network connections. Reliance Jio Infocomm USA Inc, a wholly owned step-down subsidiary of Jio is a shareholder of Airspan and maintains a seat on its Board of Directors. Jio has been a customer of Mimosa.