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Reliance Industries (RIL) has inked a pact to acquire US-based open telecom solutions provider, Radisys.
As per a statement, “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.”
The deal is subject to statutory and regulatory approvals and nod of Radisys’ shareholders. The deal is expected to close in the fourth quarter of 2018. RIL plans to fund the transaction through its internal accruals. Moreover, this acquisition will accelerate Jio’s innovation and technology position in the areas of 5G, IOT and open source architecture adoption.
