Hillsboro (Oregon) [US], March 9 (ANI): Jio Platforms on Thursday said its subsidiary — Radisys Corporation — would acquire Mimosa Networks from Airspan Networks Holdings for USD 60 million on a debt-free, cash-free basis.
Mimosa’s product development, manufacturing, and sales teams of 56 employees will continue with Mimosa following the acquisition by Radisys, according to a statement from Radisys. Airspan maintains a reseller channel for specific joint 4G/5G and fixed wireless access (FWA) projects and will continue marketing Mimosa products to some of its customers following the acquisition.
Mimosa has a diverse portfolio of point-to-point and point-to-multi-point products based on WiFi 5 and the newer WiFi 6E technologies as well as related accessories, such as twist-on antennas.
On the transaction, Jio President Mathew Oommen said, “Over the years, our collaboration with Airspan has resulted in groundbreaking architectures for high-speed connectivity for both the end user and for backhaul applications.”
He said, “The 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.”
Eric Stonestrom, Chairman and Chief Executive Officer of Airspan, said, “We are excited about this transaction. It not only puts a very capable product team with one of the world’s most innovative and transformative technology and telecommunications companies, but it also strengthens Airspan’s balance sheet enabling the company to pursue fourth-generation mobile system (4G) and 5G private and mobile network operator (MNO) networks which have been our main focus.”
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.
According to the statement, Airspan acquired Mimosa in 2018 to target cost-effective fixed wireless access network connections. Mimosa has a diverse portfolio of point-to-point and point-to-multi-point products based on WiFi 5 and the newer WiFi 6E technologies as well as related accessories.
WiFi 5 or IEEE 802.11ac is the fifth generation of wireless networking standards in the IEEE 802.11 set of standards which provides high throughput in a wireless local area network (LAN) using the 5GHz band frequency. (ANI)
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