Reliance Jio Platforms today announced its subsidiary, Radisys Corporation, is set to acquire Mimosa Networks from US-based IT services firm, Airspan Networks Holdings, for US$60 million (Rs. Airspan acquired Mimosa in 2018 with the aim of targeting affordable fixed wireless access network connections. Mimosa has a diverse portfolio of Point-to-Point and Point-to-Multipoint products, powered by Wi-Fi 5 and newer Wi-Fi 6E technologies, and associated accessories like twisted-connect antennas, PoE injectors, and more. These solutions have use cases within 5G and backhaul requirements of FTTX/FWA deployments.
Jio has been one of the key customers for Mimosa. Mimosas 56-person team for product development, production, and sales will remain at Mimosa after the acquisition. Airspan retains the sales force channel for 4G/5G-specific and common FWA projects, and will continue marketing Mimosa products to certain of its customers following the acquisition. Jio is a shareholder in Airspan and retains a seat on its board.
The deal is expected to close in Q3-2023, subject to regulatory approval. Over the years, our partnership with Airspan has led to innovative architectures to deliver high-speed connections for both the end-user and for backhaul applications. The acquisition of Mimosa will further accelerate Jios innovation and leadership in building telecommunications network products that provide value for consumers and businesses around the world through affordable, fast-deployed fixed and mobile broadband.
We are very excited about the acquisition. Not only does it place a highly competent product team in a partnership with one of the worlds most innovative and transformational tech and telecom companies, it strengthens Airspans balance sheet, which allows the company to move forward on 4G and 5G private and MNO networks, which has been our primary goal.