Airspan Networks agreed to sell its Mimosa Networks business unit to Radisys Corporation (a wholly owned subsidiary of Jio Platforms), for US$ 60 million on a debt free, cash free basis.
Mimosa has a diverse portfolio of point-to-point and point-to-multi-point products based on WiFi 5 and the newer WiFi 6E technologies as well as related accessories, such as twist on antennas, PoE Injectors, etc. These solutions have use cases in the backhaul requirements for 5G and FTTX/ FWA rollouts. Jio has been a major customer of Mimosa.
Airspan acquired Mimosa in 2018. Mimosa’s product development, manufacturing, and sales teams of 56 employees will continue with Mimosa following the acquisition by Radisys. Airspan maintains a reseller channel for specific joint 4G/5G and FWA projects and will continue marketing Mimosa products to some of its customers following the acquisition. Mimosa revenues for 2022 were approximately $25 million.
Separately, Airspan said it will sharpen its focus as a pure-play in 4G/5G Open RAN and private networks. The company’s Board of Directors is evaluating strategic option as has hired PJT Partners to pursue various options to optimize shareholder value.
Airspan reports unaudited revenue for FY22 and 4Q22 of $167.3 million and $41.7 million as well as FY22 Gross Profit of $66.4 million (39.7% gross margin) and 4Q22 Gross Profit of $19.2 million (46.1% gross margin).
Airspan acquires Mimosa Networks
