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Reliance Industries (RIL) has entered into a definitive agreement to acquire Radisys Corporation, a global open source telecom solutions company listed on Nasdaq, for $ 1.72 per share in cash.
The size of the operation is about 74 million Rs. According to Reliance Jio's director, Akash Ambani, "Reliance and Jio have disrupted the legacy business models and established new criteria for world reference
". Radisys' world-clbad management and engineering team provides rapid expertise in innovation and development of Reliance solutions globally, complementing our work towards networks and disaggregated platforms. and centered on the software.
In Oregon, Radisys has nearly 600 employees, along with a team of Bangalore-based engineers, and sales and support offices around the world.
"Accelerates Innovation"
"This acquisition further accelerates Jio's global innovation and technological leadership in the areas of adoption of the I & 39; 5G, IoT and open source architecture, "added Ambani
. The services provided by service providers and telecom equipment providers by providing open and centralized software, hardware and service features that enable migration to next-generation network topologies, said Brian Bronson, CEO of Radisys. Support and support from India-based global conglomerate Reliance will accelerate our strategy and the scale required by our customers to further roll out our full range of products and services.
The Radisys team will continue to work independently to stimulate 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 and open-centric end-to-end solutions. "
" Q4 Closing of 2018 "
The transaction is subject to certain customary closing conditions, including regulatory approvals and shareholder approval of Radisys, and should be completed in the fourth quarter of 2018. RIL intends to finance the transaction with its own internal provisions
Covington & Burling LLP is acting as legal counsel and Ernst & Young has provided tax and advisory services to RIL
Raymond James & Associates, Inc. financial advisor and Baker & McKenzie LLP act as Radisys' legal advisor
RIL shares have increased of 3% to Rs. 973 on BSE in a firm market in Mumbai on Friday.
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