Reliance Jio is very much successful in attracting world’s leading tech investors. After a recent deal with Facebook, Reliance Jio made a deal with the US 5G giant chipset maker Qualcomm. As per the deal, Qualcomm will invest Rs 730 crore in Reliance Jio in exchange for a 0.15 percent equity stake.
Qualcomm has invested in Jio through it’s investment arm Qualcomm ventures. The Qualcomm – Jio deal has an equity valuation of Rs 4.91 lakh crore and enterprise valuation of Rs 5.16 lakh crore.
This is the 13th big investment in the past 12 months which includes brands like Facebook, Intel. On total, Reliance Jio has sold 25.24 percent stake in 13 investment which is a combined value of Rs 118,318.48 crore.
On this deal with Qualcomm, Chairman and Managing Director of Reliance Industries, Mukesh Ambani said “Today, I am delighted to welcome Qualcomm Ventures as an investor in Jio platforms. Qualcomm has been a valued partner for several years and we have a shared vision of connecting everything by building a robust and secure wireless and digital network and extending the benefits of digital connectivity to everyone in India.”
Steve Mollenkopf, CEO of Qualcomm Incorporated said, “With our shared goal of extending the benefits of digital connectivity to everyone and everything, we anticipate Jio Platforms will deliver a new set of services and experiences to Indian consumers. With unmatched speeds and emerging use cases, 5G is expected to transform every industry in the coming years.”