Private Equity: Vista Equity Partners Invests in Reliance Jio Platforms
A holdover from last week. But technology-focused private equity firm Vista Equity Partners has invested in Reliance Jio Platforms, India’s low-cost telecommunication company.
Vista is investing $1.5 billion for a 2.32% stake in Reliance Jio Platforms. Fellow tech-centric private equity firm Silver Lake and Facebook (NASDAQ: FB) have also made significant investments in the company recently.
Vista Equity Partners and Reliance Jio
Launch in 2016 Reliance Jio has become the biggest telephone company in India. The firm offers bargain-priced data plans and free voice calls. In just four years, they gathered more than 388 million subscribers. A subsidiary of India’s largest company. Reliance Industries runs the company. Reliance is planning to continue growing the company and hopes to become a global technology leader and among the leading digital economies in the world.”
Reliance Jio Platforms also owns several other services, including music streaming service JioSaavn , smartphones, broadband business, on-demand live television service JioTV and payments service JioPay. Facebook, which owns 9.9% of Reliance Jio, has said that they will work with the company to expand in areas like e-commerce and other services.
Vista is hoping to use the platform to expand the presence of its portfolio software companies in the region. Some of their companies already have a presence in India as it is the second-largest internet user in the world right now.
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