Radisys Corporation, a global leader of open telecom solutions (Radisys), and Reliance Industries, India's largest private sector company (RIL), have entered into a definitive agreement under which Reliance will acquire Radisys for USD 1.72 per share in cash.

Radisys is a leader in providing open telecom solutions to service providers worldwide. Headquartered in Hillsboro, Oregon, Radisys has nearly 600 employees with an engineering team based out of Bangalore, India, and sales and support offices globally. Radisys delivers value to service providers and telecom equipment vendors by providing disruptive open-centric software, hardware and service capabilities that enable the migration to next-generation network topologies.

''Reliance and Jio have been disrupting legacy business models and establishing new global benchmarks. Radisys' top-class management and engineering team offer Reliance rapid innovation and solution development expertise globally, which complements our work towards software-centric disaggregated networks and platforms, enhancing the value to customers across consumer and enterprise segments,'' said Akash Ambani, Director of Reliance Jio. ''This acquisition further accelerates Jio's global innovation and technology leadership in the areas of 5G, IOT and open source architecture adoption.''

Shares of the company declined Rs 10.85, or 1.12%, to trade at Rs 962.10. The total volume of shares traded was 36,827 at the BSE (9.36 a.m., Monday).