Jio Platforms' subsidiary Radisys completes Mimosa acquisition five months post announcement

In March this year, the Nasdaq-listed Airspan Networks and Radisys had signed an agreement under which Radisys will acquire Mimosa Networks for $60 million on a debt-free, cash-free basis. Jio Platforms has been one of Mimosa's major customers.

Mimosa’s product development, manufacturing, and sales teams of 56 employees will continue with Mimosa following the acquisition by Radisys.

“Acquisition of Mimosa will further accelerate Jio’s innovation and leadership in the production of telecom network products that deliver value to consumers and enterprises across the globe with cost-effective, rapidly deployable fixed and mobile broadband," Jio President Mathew Oommen had said on March 9.

Reliance Jio Infocomm USA Inc., a wholly owned step-down subsidiary of Jio is a shareholder of Airspan and maintains a seat on its Board of Directors.