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Radisys Corporation, an open telecom solutions provider, and Reliance Industries Limited (RIL), have entered into a definitive agreement under which RIL will acquire Radisys for $ 1.72 (approximately Rs. 117) per cash share, a joint statement According to sources, RIL bought 100% of the capital of Radisys for $ 74 million (about 506 million rupees).
Radisys, headquartered in Hillsboro, Oregon, has nearly 600 employees and a team of engineers out of Bangalore, and sales and support offices around the world. Radisys delivers value to service providers and telecommunications equipment providers by providing open, centralized software, hardware and service features that enable migration to next-generation network topologies. Reliance and Jio Disrupt Existing Business Models Radisys' high-end management and engineering team provides rapid expertise in innovation and solution development, complementing our work towards Disaggregated software-centric networks and platforms, improving value for customers and businesses Director of Reliance Jio
"This acquisition further accelerates Jio's global leadership in innovation and technology across the areas of the adoption of 5G, IOT and open source architecture ", he adds
. our strategy and the scale required by our customers to further deploy our full range of products and services. The Radisys team will continue to work independently to drive future growth, innovation and expansion. Addition of Reliance's visionary leadership and strong posi market will improve Radisys' ability to develop and integrate large-scale, disruptive and open-centric end-to-end solutions, "said Brian Bronson, CEO of Radisys
Covington & Burling LLP. as legal counsel and Ernst & Young provided due diligence Raymond James & Associates acts as financial advisor and Baker & McKenzie LLP acts as Radisys' legal advisor.
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