Airspan sells Mimosa Networks to Radisys for USD 60 million

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.