Radisys Corporation (Nasdaq:RSYS), a global leader of open telecom solutions, and Reliance Industries Limited, India´s largest private sector company, have entered into a definitive agreement under which Reliance will acquire Radisys for USUSD 1.72 per share in cash, the company said.
The transaction is subject to certain customary closing conditions, including regulatory approvals and approval of Radisys´ shareholders, and is expected to close in the fourth quarter of 2018. RIL intends to finance the transaction through its own internal accruals.
Covington & Burling LLP is acting as legal advisor and Ernst & Young provided diligence and tax advisory services to RIL.
Raymond James & Associates, Inc. is acting as financial advisor and Baker & McKenzie LLP is acting as legal advisor to Radisys.
Reliance Industries Limited (RIL) is India´s largest private sector company, with a consolidated turnover of USD 66.1 billion, operating cash profit of USD 9.8 billion and net profit of USD 5.5 billion for the year ended March 31, 2018.
The Group´s digital communications and services initiatives under Jio brand, have been redefining benchmarks, setting new milestones, inspiring unprecedented adoption, usage and service metrics. For more information, visit www.ril.com
Radisys enables service providers to drive disruption with new open architecture business models. Radisys´ innovative disaggregated and virtualized enabling technology solutions leverage open reference architectures and standards, combined with open software and hardware to power business transformation for the telecom industry, while its world-class services organization delivers systems integration expertise necessary to solve communications and content providers´ complex deployment challenges. For more information, visit www.radisys.com. 1