Rakuten to acquire Altiostar at a valuation of over $1 billion

NEW DELHI: Japan’s Rakuten Group Wednesday said it will acquire US-based open virtual radio access network (open vRAN) provider Altiostar Networks Inc., at a total valuation of Altiostar of over $1 billion with the objective to accelerate the global deployment of cloud-native, open and interoperable network infrastructure.

“We’re delighted to welcome the Altiostar team to the Rakuten family as we share a common passion for empowering mobile networks through disruptive innovation, offering mobile operators around the world secure, cost-effective and highly agile technology,” commented Rakuten Group CEO, Mickey Mikitani.

Last year, IT services major Tech Mahindra’s wholly-owned subsidiary TechM Americas had sold its stake in Altiostar Networks for $45 million to Rakuten’s US subsidiary.