On Friday, Reliance said the deal values Jio at around $ 65 billion.
“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,” Ambani said in a statement.
Jio Platforms has several services under its control, including Reliance Jio, the mobile network that has taken India by storm since it was launched less than four years ago. The courier collected 388 million users, took Ambani’s brother and rival out of service and forced the other local operators to merge. Jio Platforms also includes a family of apps where users can stream movies, shop online, send text messages, read news and more.
Vista Equity, which has a capital commitment of over $ 57 billion, invests in software, data and technology companies.
Robert Smith, president and CEO of Vista, said in a statement that the investment in Jio will help fuel “exponential growth in connectivity across India”.
India is in the midst of an Internet boom. It is the second largest smartphone market in the world and boasts hundreds of millions of users eager to participate in the growing digital economy.
And there is still a lot of room to grow: nearly 600 million people in India have not yet obtained Internet access.
Coffee enthusiast. Travel scholar. Infuriatingly humble zombie fanatic. Thinker. Professional twitter evangelist.