India’s Reliance Industries on Sunday said Qualcomm Inc’s financial commitment arm will get a .15% stake in its electronic device Jio Platforms for 7.3 billion Indian rupees ($97.1 million).
The partnership will enable Jio Platforms, the unit that residences Reliance’s telecoms enterprise Jio Infocomm, to “rollout state-of-the-art 5G infrastructure and expert services for Indian shoppers,” Reliance stated in a statement.
Qualcomm, the 13th this kind of investment in 12 weeks
The offer with Qualcomm — the 13th this sort of financial investment in 12 weeks—means Reliance has offered 25.24 per cent in Jio. RIL has now elevated Rs 118,318.45 crore in full from some of the world’s primary tech buyers.
Fb had bought a 9.99 p.c stake for Rs 43,574 crore on April 22. Reliance has because marketed stakes in Jio to global buyers these as Standard Atlantic, KKR, Saudi sovereign prosperity fund, Abu Dhabi point out fund, Saudi Arabia’s PIF and Intel.
Qualcomm is a San Diego, California, headquartered wireless technology corporation that specialises in 3G, 4G and 5G wi-fi systems. Qualcomm’s systems and items are widely applied in cell devices and other wi-fi items.
Qualcomm’s Snapdragon methods on a chip (SoC) is applied by a lot of main smartphones. The company’s technologies and products are also utilised in automotive, computing and IoT. Globally Qualcomm retains a massive selection of patents and the organization also data files the most number of patents in India.