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, PoE Injector. Jio has been one of the major customers of Mimosa.
Jio President Mathew Oommen said, “The acquisition of Mimosa will further accelerate Jio's innovation and leadership in the production of telecom network products. With this, the consumer will get cost-effective, rapidly deployable fixed and mobile broadband.
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.