Takeover to accelerate Jio’s innovation
Reliance Industries Limited has entered into a definitive agreement to acquire Radisys Corporation (Nasdaq:RSYS) at US$1.72 per share in cash.
Headquartered in Hillsboro, Oregon, Radisys is a leader in providing open telecom solutions to service providers worldwide and has an engineering team based in Bangalore.
“Reliance and Jio have been disrupting legacy business models and establishing new global benchmarks. Radisys’ top-class management and engineering team offer Reliance rapid innovation and solution development expertise globally, which complements our work towards software-centric disaggregated networks and platforms, enhancing the value to customers across consumer and enterprise segments,” said 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,” he said.
Brian Bronson, CEO of Radisys said, “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. The addition of Reliance’s visionary leadership and strong market position will enhance Radisys’ ability to develop and integrate large-scale, disruptive, open-centric end-to-end solutions,” he said. Fiinews.com