Jio to acquire Mimosa Networks for 490 crores

Radisys Corporation, a subsidiary of Nasdaq-listed Airspan Networks and Jio Platforms, has signed an agreement. Under the agreement, Radisys will acquire Mimosa Networks on a debt-free, cash-free basis for $60 million (about Rs 491 crore).
Airspan acquired Mimosa Networks in 2018 to target cost-effective fixed wireless access network connections. Mimosa's transaction with Jio Platforms is subject to regulatory stipulations. It is expected to be completed in the third quarter of 2023.
Mimosa Networks has a portfolio of point-to-point and point-to-multi-point products based on WiFi 5 and the new WiFi 6E technologies. Along with this, there are accessories like Twist On Antenna, and PoE Injector. Jio has been one of the major customers of Mimosa.
Mimosa's product development, manufacturing and sales team of 56 employees will remain with Mimosa following the Radisys acquisition.
Jio President Mathew Oommen said, “The acquisition of Mimosa will further accelerate Jio's innovation and leadership in the production of telecom network products. This will provide cost-effective, rapidly deployable fixed and mobile broadband to the consumer.
Eric Stonestrom, Airspan's chairman and CEO, said, "This will strengthen Airspan's balance sheet, enabling the company to grow 4G and 5G private and MNO networks." This has been our main focus.
Jio unveiled its 5G Fixed Wireless Access (FWA) solution in August 2022. It is called Jio AirFiber. Through this, the company is targeting 100 million homes. However, this solution is not yet commercially available. Second-ranking Bharti Airtel also has plans to provide 5G FWA service to customers in the country.