Reliance to acquire Radisys for approximately $67 million

Reliance Industries Limited agreed to acquire Radisys Corporation for US$1.72 per share in cash -- representing an enterprise value of about $67 million based on 39 million shares outstanding.

Radisys, which is based in Hillsboro, Oregon, has nearly 600 employees with an engineering team based out of Bangalore, India, and sales and support offices globally. Radisys delivers value to service providers and telecom equipment vendors by providing disruptive

The company supplies open-centric software, hardware and service capabilities to service providers and telecom equipment vendors.

“Reliance and Jio have been disrupting legacy business models and establishing new global benchmarks. Radisys’ top-class management and engineering team offer Reliance rapid innovation and solution development expertise globally, which complements our work towards software-centric disaggregated networks and platforms, enhancing the value to customers across consumer and enterprise segments,” 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.”

Brian Bronson, CEO of Radisys said, “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. 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.”

• Radisys was founded in 1987 by former Intel engineers Dave Budde and Glen Myers. The company completed its IPO in 1995.