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Reliance takes over US based Radisys to strengthen 5G and IoT

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Reliance takes over RadisysReliance Industries has acquired US-based open telecom solutions provider Radisys which will boost its 5G and Internet of Things (IoT) segment.

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The deal is estimated at Rs 506 crore. The Nasdaq-listed Radisys will be delisted post the acquisition.

“Radisys Corporation… a global leader of open telecom solutions…and Reliance Industries Limited, India’s largest private sector company, have entered into a definitive agreement under which Reliance will acquire Radisys for USD 1.72 per share in cash,” a joint statement by the two companies said.

“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 of Reliance Jio.

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More than 600 employees are working for Radisys and in India it has its headquarters at Bengaluru.

Reliance has already acquired Embibe, an artificial intelligence education platform.

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