Jio buys US-based Mimosa Networks for $60 million

Jio Platforms, the digital arm of Reliance Industries Ltd, will buy communications equipment maker Mimosa Networks for $60 million as it looks to bolster its 5G telecom and broadband services.

Radisys Corporation, a subsidiary of Jio Platforms, signed a definitive agreement with US-based Airspan Networks Holdings for acquisition of “Mimosa Networks for $60 million on a debt free, cash free basis,” the companies said in a statement.

While Jio Platforms is the owner of India’s biggest telecom firm, Reliance Jio Infocomm, Mimosa has a portfolio of point-to-multi-point products based on WiFi-5 and the newer WiFI 6E technologies as well as related accessories.