Jio Platforms gets one more big-ticket investor Vista
Close on the heels of social media giant Facebook and private equity firm Silver Lake betting big on Indian telecom behemoth Jio Platforms, another private equity firm Vista Equity Partners will invest $ 1.5 billion (Rs. 11,367 crore) in it.
Jio Platforms has now raised $ 8 billion Rs 60,596.37 crore — amounting to a total of 13.4% stake — from leading technology investors in less than three weeks.
This investment by Vista values Jio Platforms at an equity value of Rs. 4.91 lakh crore and an enterprise value of Rs. 5.16 lakh crore. Vista’s investment will translate into a 2.32% equity stake in Jio Platforms on a fully diluted basis, making Vista the largest investor in Jio Platforms behind Reliance Industries and Facebook.
Reliance Jio Platforms, with its agressive approach in the market since 2016, has managed to win for itself a base of over 388 million subscribers. But the recent spate of investments suggests that the company is priming itself for making further inroads on multiple fronts.
Commenting on the transaction with Vista, Mukesh Ambani, Chairman and Managing Director, Reliance Industries Ltd, said, “Vista also shares with us the same vision of continuing to grow and transform the Indian digital ecosystem for the benefit of all Indians. We are excited to leverage the professional expertise and multi-level support that Vista has been offering to its investments globally for the benefit of Jio.”
Jio is setting a scorching pace
Vista is a leading global investment firm focused on enterprise software, data and technology enabled companies. Vista has more than $57 billion in cumulative capital commitments and its global network of companies collectively represent the 5th largest enterprise software company in the world. Currently, Vista portfolio companies have a significant presence in India with over 13,000 employees.
Robert F Smith, Founder, Chairman and CEO of Vista, said, “We believe in the potential of the Digital Society that Jio is building for India. Jio’s world-class leadership team have built a platform to scale and advance the data revolution it started.”
“We are thrilled to join Jio Platforms to deliver exponential growth in connectivity across India, providing modern consumer, small business and enterprise software to fuel the future of one of the world’s fastest growing digital economies,” he added.
Close on the heels of social media giant Facebook and private equity firm Silver Lake betting big on Indian telecom behemoth Jio Platforms, another private equity firm Vista Equity Partners will invest $ 1.5 billion (Rs. 11,367 crore) in it. Jio Platforms has now raised $ 8 billion Rs 60,596.37…
Recent Posts
- ICYMI: the week’s 7 biggest tech stories, from Netflix enraging users to the Rabbit R1 disappointing all of us
- Samsung’s archrival strikes crucial partnership with Nvidia’s closest ally to deliver key next-gen memory — SK Hynix teams up with TSMC to advance HBM development but could this move encourage TSMC to become like Intel?
- As Google’s antitrust trial wraps, DOJ seeks sanctions over missing messages
- Microsoft needs some time to ‘refine’ updates for Copilot AI in Windows
- Sony Xperia 1 VI leak reveals new camera app and more features borrowed from Alpha cameras
Archives
- May 2024
- April 2024
- March 2024
- February 2024
- January 2024
- December 2023
- November 2023
- October 2023
- September 2023
- August 2023
- July 2023
- June 2023
- May 2023
- April 2023
- March 2023
- February 2023
- January 2023
- December 2022
- November 2022
- October 2022
- September 2022
- August 2022
- July 2022
- June 2022
- May 2022
- April 2022
- March 2022
- February 2022
- January 2022
- December 2021
- November 2021
- October 2021
- September 2021
- August 2021
- July 2021
- June 2021
- May 2021
- April 2021
- March 2021
- February 2021
- January 2021
- December 2020
- November 2020
- October 2020
- September 2020
- August 2020
- July 2020
- June 2020
- May 2020
- April 2020
- March 2020
- February 2020
- January 2020
- December 2019
- November 2019
- December 2011