Reliance industries Ltd has today entered into a definitive agreement yo acquire 100% of Radisys corporation through a wholly owned subsidiary set up in U.S for cash consideration aggregating to approximately USD 75 million equity value , based on current outstanding and dilutive equity share impact.
RSYS is a global leader of open telecom platforms solutions Incorporated in the state of Oregon , U.S.A in March 1987.
RSYS provides open centric software , hardware and service capabilities that enable the migration to next generation network topologies.
RSYS reported annual turnover is USD 133.77 million, USD 212.4 million, USD 184.6 million in CY 2017, CY 2016 and CY 2015 respectively.
The aforesaid investment has potential synergies with the current investments in digital communication and services framework which is architected around network as a platform service. This will also help in fostering world class innovation efforts through access to high quality engineering talent.
The transaction is subject to statutory / regulatory approvals from the committee for foreign investment in US , and share holders of RSYS and is expected to be completed in 3 to 6 months time frame . The investment does not fall within related party transaction and none of RIL s promoter/ promoter group / group companies have any interest in RSYS.