Jio Platforms, which is part of the Indian company Reliance, bought the California-based company Mimosa Networks for $60 million in cash. Prior to being purchased by the US-based telecom in 2018, Mimosa Networks was owned by Airspan Networks and specialised in providing WiFi5 and WiFi6-based wireless broadband solutions. Jio Platforms is a significant customer of Mimosa and has been using its solutions for backhaul needs for 5G and FTTX/FWA rollouts.
The purchase will support Jio’s plans to provide consumers and businesses with affordable cellular options. Following the acquisition, the teams in charge of product development, manufacturing, and sales will stay on board with the business. Airspan also keeps a reseller channel for certain joint 4G/5G and FWA projects, and it will continue to sell Mimosa products to some of its clients after the acquisition. Jio holds a seat on the board of directors and is an owner of Airspan.
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The deal is expected to go through in the third quarter of 2023. After a number of regulatory hurdles have been cleared. Sources say that in 2020, Reliance made a big push to raise money for Jio. Got $25 billion from backers like KKR, GIC, and Facebook. Jio is the core of many of Reliance’s business operations, such as cloud, marketing, and logistics. Jio just announced that 5G will be available in more than 100 cities in India. It is expected that the company’s acquisition of Mimosa Networks will help. Iit continue to offer its customers effective and affordable cell phone services.
