New Delhi, Aug 11 (PTI) Jio Platforms' subsidiary Radisys Corporation on Friday announced that it has completed the acquisition of Mimosa Networks, Inc. from Airspan Networks Holdings Inc.

Earlier this year, the companies had announced the deal under which Radisys Corporation signed a definitive agreement with US-based Airspan Networks Holdings for the acquisition of Mimosa Networks for USD 60 million on a debt-free, cash-free basis.

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According to a release on Friday, "Radisys Corporation, a wholly owned subsidiary of Jio Platforms Limited and a global leader of open telecom solutions, today announced that it has completed the acquisition of Mimosa Networks, from Airspan Networks Holdings Inc."

With this, Mimosa has become a wholly-owned subsidiary of Radisys. Radisys' acquisition of Mimosa will accelerate the availability of broadband access for advancing societies, the release said.

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Mimosa offers a diverse portfolio of point-to-point and point-to-multi-point connectivity products leveraging unlicensed spectrum bands.

These products enable the rapid rollout of multi-gigabit-per-second Fixed Wireless Access networks and wireless backhaul connectivity for telecommunications systems.

The Mimosa product suite complements Radisys Open Access (Connect Open RAN and Connect Open Broadband) portfolio.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)