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India’s Jio Platforms scores third US cash injection in three weeks - this time $1.5bn from Vista Equity Partners
It's like three buses showing up at once carrying $8bn
India’s largest mobile carrier, Jio, has just scored a third new investor in three weeks!
Following cash splashes from Facebook and Silver Lake, Vista Equity Partners has written a cheque for $1.5bn to acquire a 2.32 percent equity stake in the telco.
That’s double the slice acquired by Silver Lake and about a quarter of the stake taken by Facebook.
Vista’s other current tech investments include Datto and Forcepoint. This is its first Indian foray.
“We believe in the potential of the Digital Society that Jio is building for India,” said Vista’s founder and CEO Robert F Smith. “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.”
The same canned statement saw Mukesh Ambani, chairman and managing director of Jio’s parent company Reliance Industries say he feels Vista offers “professional expertise and multi-level support” that Jio needs.
So what will Jio do with the $8bn it’s won in recent weeks? The company is eyeing off its 5G build, a move into payment systems, m-commerce in partnership with other tech giants, content deals and much more. ®
Biting the hand that feeds IT
