Airspan Networks has agreed to sell its subsidiary Mimosa Networks to Radisys for USD 60 million. Radisys is owned by Indian operator Reliance Jio, which is already a major Mimosa customer and also a shareholder in Airspan. Following the sale, Airspan said its business will be a more “pure play” in 4G/5G open RAN and private networks, and the company will work with PJT Partners to explore further strategic options.
Airspan acquired Mimosa in 2018 to work on fixed-wireless access. Mimosa has a portfolio of point-to-point and point-to-multi-point products based on Wi-Fi 5 and Wi-Fi 6E technologies as well as related accessories, such as twist on antennas and PoE injectors. These products have use cases in the backhaul requirements for 5G and FTTX/FWA rollouts.
Mimosa’s product development, manufacturing and sales teams of 56 employees will continue with Mimosa following the acquisition by Radisys. Airspan maintains a reseller channel for specific joint 4G/5G and FWA projects and will continue marketing Mimosa products to some of its customers following the acquisition.
Airspan said the sale will allow Mimosa to develop as part of a larger group, while strengthening Airspan’s balance sheet to invest in its other network products. The purchase price was agreed on a cash- and debt-free basis. Subject to regulatory approvals, the acquisition is expected to close in Q3.
At the same time, Airspan reported revenues of USD 167.3 million for 2022, with a gross margin of 39.7 percent. Mimosa revenues for 2022 were approximately USD 25 million.
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