India's Reliance Industries has arranged to acquire open telecoms solutions provider Radisys for around $75 million to help expand mobile division Reliance Jio Infocomm's 5G and IoT capabilities.
The acquisition, for $1.72 per share in cash, is expected pending approvals to close in the third quarter.
US-based Radisys has nearly 600 employees with an engineering team based out of Bangalore, as well as sales and report offices around the world.
The company provides open-centric software, hardware and service capabilities for both telecoms operators and vendors.
Reliance Jio director Akash Ambani said the acquisition will accelerate the operator to enhance its 5G, IoT and open source architecture capabilities.
“Reliance and Jio have been disrupting legacy business models and establishing new global benchmarks,” he said.
“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.”