Reliance Industries Ltd has entered into an agreement to acquire US-based open telecom solutions provider Radisys Corporation at a valuation of $74 million. As part of the deal, which is widely expected to boost Reliance Jio Infocomm Limited (Jio's) 5G and Internet of Things (IoT) capabilities, RIL will pay $1.72 per share in cash for the buyout, a joint release from the two companies said. Headquartered in Hillsboro, Oregon, the Nasdaq-listed Radisys has nearly 600 employees, an engineering team in Bengaluru, along with sales and support offices globally. In a statement to the press, RIL said, Radisys enables service providers and telecom equipment vendors to migrate to next-generation networks. The deal is subject to statutory closing conditions, including regulatory approvals and approval of Radisys’ shareholders, and is expected to close in the fourth quarter of 2018. RIL intends to finance the…
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