According to statements made by both companies on Thursday, Radisys Corp, a subsidiary of Jio Platforms, which is owned by Reliance Industries Ltd (RIL), will purchase Mimosa Networks from Airspan Networks Holdings Inc. in the United States for the sum of $60 million in a debt-free and cash-free transaction.

According to the statement, “Today, Airspan Networks Holdings (Airspan), Radisys Corporation (Radisys), a wholly owned subsidiary of Jio Platforms Limited (Jio), announced the sale of Mimosa Networks, Inc. (Mimosa) to Radisys for $60 million on a debt free, cash free basis.” The sale of Mimosa Networks, Inc. to Radisys was completed “on a debt free, Airspan is owned by Reliance Jio Infocomm USA Inc., which is a wholly owned step-down subsidiary of Jio. Reliance Jio Infocomm USA Inc. also has a seat on the Board of Directors of Airspan.

Radisys maintains a reseller channel for specific joint 4G/5G and FWA projects, and Airspan will continue marketing Mimosa products to some of its customers following the acquisition of Mimosa by Radisys, the companies added. Mimosa’s product development, manufacturing, and sales teams have a combined total of 56 employees. Following the acquisition by Radisys, these employees will remain with Mimosa.