Radisys, a global leader of open telecom solutions and Reliance Industries have entered into a definitive agreement under which Reliance will acquire Radisys for $1.72 per share in cash.
Radisys headquartered in Hillsboro, Oregon has nearly 600 employees with an engineering team based out of Bangalore. The company delivers value to service providers and telecom equipment vendors by providing disruptive open-centric software, hardware and service capabilities that enable the migration to next-generation network topologies.
“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, Reliance Jio.
“This acquisition further accelerates Jio’s global innovation and technology leadership in the areas of 5G, IoT and open source architecture adoption,” added Ambani.
Brian Bronson, CEO, 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.”
The transaction is subject to certain customary closing conditions, including regulatory approvals and approval of Radisys’ shareholders, and is expected to close in the fourth quarter of 2018. RIL intends to finance the transaction through its own internal accruals.