One of the world’s top wireless technology companies Qualcomm has now joined Facebook Inc and US semiconductor giant Intel to become the third strategic technology investor in Reliance Industries' digital arm Jio Platforms. Qualcomm Inc will invest Rs 730 crore in Jio Platforms in exchange for a 0.15 percent stake.
With this latest deal, the 13th such investment in Jio Platforms in 12 weeks, Mumbai-based RIL has now raised a combined Rs 118,318.45 crore from some of the world’s leading tech investors.
Here are five key things to know about the latest Qualcomm-Jio deal:
> Qualcomm Ventures, the investment arm of Qualcomm Incorporated, an industry leader in wireless technologies, has committed to invest up to Rs 730 crore in Jio Platforms.
> The transaction will take place at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.
> Jio Platforms has now raised a combined Rs 1,18,318.45 crore from some of the world’s leading tech investors with the latest deal.
> Qualcomm is the 13th investor to purchase a minority stake in Jio Platforms, joining a long list of 12 other such investors.
> The deal with Qualcomm takes the total stake that RIL sold in Jio Platforms to 25.24 percent.