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US-based Vista Equity Partners Announces to Pick 2.32 Percent Stakes in Jio Platforms

Vista Equity Partners stakes in Jio

Vista Equity Partners announced to pick up 2.32 percent stakes in Jio Platforms worth INR 11,367 crore

India: Vista Equity Partners, a US based private equity firm, has announced to buy 2.32 percent stakes in Jio Platforms Limited for INR 11,367 crore (USD1.513 Billion). This is Vista’s first sizeable investment in the country and the company will be the third largest investor in Jio platforms i.e., Reliance’s digital unit after Reliance Industries and Facebook. Jio platforms is the youngest and the largest telecom company in India with over 388 million subscribers. Jio platform comprise Reliance’s digital investments and properties like Haptik, Jio Cinema, Jio Saavn.

Chairman and Managing Director of RIL, said, “I am delighted to welcome Vista, one of the world’s marquee tech investors globally as a valued partner. Like our other partners, 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.”

Founder, Chairman and CEO of Vista, said, “We believe in the potential of the Digital Society that Jio is building for India. 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.”

According to TechSci Research, this is the third investment in less than 15 days in Jio platforms which is a RIL’s digital unit. Jio Platforms has now raised a total of INR 60, 596.37 crore (USD .0647 Billion) from leading technology investors such as Silver Lake, Vista and Facebook in May 2020. These multiple investments will help bolster Jio’s position as a consumer technology company and help RIL to be debt-free by 2021.

According to the published report by TechSci Research, Global 5G Infrastructure Market, By Communication Infrastructure (Small Cell, Macro Cell, Radio Access Network (RAN) and Distributed Antenna System (DAS)), By Core Network Technology (Software-Defined Networking (SDN), Network Function Virtualization (NFV), Mobile Edge Computing (MEC) and Fog Computing (FC)), By Application (Healthcare, Automotive, and Others), By Company and By Geography, Forecast & Opportunities, 2014-2024”, Global 5G infrastructure market is expected to reach USD33.14 billion by 2024, by growing at a CAGR of over 50% during the forecast period. The major factors driving the growth of the 5G infrastructure market include growing demand for high speed & large network coverage, growing adoption of IoT and big data analysis, growing demand for connected vehicles & devices across the globe and increasing investments by the governments in various economies. Furthermore, 5G is a key enabler for Internet of Things (IoT) by offering a platform to connect several devices to the internet.

According to the recently published report by TechSci Research, Global Voice over WiFi Market By Technology (CSFB, VolGA, SVLTE), By Voice Client (Integrated VoWiFi, Separate VoWiFi, Browser VoWiFi), By Device Type (Smartphone, Router, Wireless Modem, Others), By End User (Residential, Commercial), By Region, Forecast & Opportunities, 2025”, Global Voice over WiFi (VoWiFi) market is expected to witness robust growth during forecast period. With the increase in the number of internet users every year, almost every mobile communication is done via WiFi, consequently increasing its market share across the globe. Moreover, VoWiFi market is also driven by the problem of the absence of WiFi coverage indoors due to which the users tend to shift towards VoWiFi, when they face poor connectivity issues inside offices, homes, shops, etc., as it ensures convenient calling.