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Tuesday, July 03, 2018

Radisys falls to Reliance in new world of IoT

By Nick Flaherty www.flaherty.co.uk

Once strong telecoms embedded systems supplier Radisys has been bought by Reliance Industries of India to boost Reliance's position in the Internet of Things.

Radisys has been suppling systems for 4G and 5G networking

The deal, at $1.72 per share in cash, values Radisys at a low $64m and is expected to be completed by the end of the year.

Radisys, based in Hillsboro, Oregon, has nearly 600 employees, including an engineering team based out of Bangalore, India, and sales and support offices globally.

“Reliance and Jio have been disrupting legacy business models and establishing new global benchmarks," said Akash Ambani, Director of Reliance Jio. "This acquisition further accelerates Jio’s global innovation and technology leadership in the areas of 5G, IOT and open source architecture adoption.”

“The backing and support of India-based global conglomerate Reliance, will accelerate our strategy and the scale required by our customers to further deploy our full suite of products and services," said Brian Bronson, CEO of Radisys. "The Radisys team will continue to work independently on driving its future growth, innovation and expansion. The addition of Reliance’s visionary leadership and strong market position will enhance Radisys’ ability to develop and integrate large-scale, disruptive, open-centric end-to-end solutions.”

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