Reliance Jio has started preparations for the expansion of 5G services in the country. Reliance Industries has tied up with America's Radisys to push Geo's planning.
New Delhi: Reliance Jio has started preparations for the expansion of 5G services in the country. To push this new plan of Geo, Reliance Industries has entered into an agreement with American telecommunications solutions company Radisys to acquire it. Reliance Industries will soon buy the full share of Radisson. This information has been given in the stock market by Reliance Industries. According to the information given by Reliance Industries, Radisis is Global Leader in Open Telecom Platform Solutions. The purpose of this agreement is to prepare Geo for future features such as 5G and Internet of Things.
Cash deal in the market
Both companies gave information of this agreement in a joint statement. According to sources, this transaction of the company will be fully cash-related transactions. There is a possibility of a deal worth $ 7.4 million. According to the information given to the stock exchange, 100 percent stake in Radissi will be bought at a rate of 1.72 dollars per share. Ambani's eldest son, Mukesh Ambani's son, said on this deal that this acquisition will help Reliance Jio to move forward in 5G and IoT.
What does Radisson
Radissice is one of the world's leading companies providing telecommunication solutions. Reliance has made a committed agreement to buy it. According to the information provided by Reliance Industries, the deal is now awaiting regulatory approval and it is expected to be completed by the fourth quarter of 2018. From Reliance Jio, it has been said that this deal will strengthen the management and engineering team and will help in exploration. It has been said from Radissi's side that the company's team will continue to work independently.
Declaration of deal on Akash Ambani's engagement
Reliance jio Telecom is growing rapidly in the sector. Just two months ago, the company had contracted with a music app and merged it with Geo Music. Reliance Jio has more than 20 million subscribers across the country. Let's tell you, Akshay Ambani, director of Reliance Jio, has engaged with diamond businessman Russell Mehta's daughter Shloka Mehta. Reliance Industries has announced this deal on Sky and Shloka's engagement.
5G service can be launched only in 2018
Live can launch the 5G service in 2018 itself. Let us know, Reliance Jio announced it in the Mobile World Congress held in Barcelona. Reliance Jio also signed a 5G service deal with the leading mobile manufacturer Samsung. Now with the agreement with Radisson it is clear that he wants to work fast on the 5G service.