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Reliance plans to finance the transaction through its own internal accruals.
Reliance Industries (RIL) to acquire Radisys Corporation, a US provider of telecommunications solutions. According to sources, RIL took a 100% stake in Radisys for $ 74 million, the IANS news agency reported. Radisys and RIL have reached an agreement under which Reliance will acquire Radisys for $ 1.72 per share in cash, said the two companies in a press release. This acquisition will accelerate Jio's global leadership in innovation and technology in the areas of 5G, IOT (Internet of Things) and the adoption of Open Architecture. Source
Radisys is a major player in providing open source telecom solutions to service providers around the world and is headquartered in Hillsboro, Oregon. It has nearly 600 employees with an engineering team based in Bangalore. However, the agreement is subject to certain regulatory and statutory approvals and is expected to be finalized in the fourth quarter of 2018. Reliance plans to finance the transaction using its own internal provisions
"Reliance and Jio disrupted the models of Traditional business and Radisys' high-end management and engineering team provides rapid expertise in innovation and development of Reliance solutions on a global scale, complementing and our work towards software-centric platforms and networks Akash Ambani, Director of Reliance Jio
"The Radisys team will continue to work independently to drive future growth, innovation and innovation. expansion, and Reliance's visionary leadership and market position will enhance Radisys' development capacity. "said Brian Bronson, CEO of Radisys.
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