Reliance Industries (RIL) is expected to complete its acquisitio of Radisys no later than December 14, 2018. Radisys said the companies are working to close the transaction as promptly as practicable on or before that date. In connection therewith, RIL also acknowledged that Radisys has satisfied all conditions to RIL’s obligations to close the transaction.
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.
- Radisys was founded in 1987 by former Intel engineers Dave Budde and Glen Myers. The company completed its IPO in 1995.
