Intel invests in Jio Platform following Facebook

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Intel invests in Jio Platform following Facebook

Intel is investing over $ 250 million in Indian telecoms company Jio Platforms just three months after Facebook announced it would invest $ 5.7 billion in the company..

Billionaire-owned Jio Platforms Mukeshu Ambani from Reliance Industries, on Friday announced a new equity investment via Twitter. Intel will invest $ 253.5 million in the company, which is valued at $ 65 billion, in exchange for 0.39% of the shares.

The investment, via chip venture capital firm Intel Capital, comes after Facebook said in April it had invested $ 5.7 billion in an Indian company in exchange for a 9.9% stake..

Jio Platforms operates the Jio Infocomm telecommunications network, which has launched more than 388 million 4G subscribers since its launch in 2016. Today it is the leading telecommunications company in India and also has several applications and other services in the field of e-commerce and broadband..

«Jio Platforms’ focus on leveraging its impressive engineering capabilities to power low-cost digital services in India is in line with Intel’s goal of delivering disruptive technologies that enrich lives, Intel Capital President said in a statement. Wendell Brooks. – We believe digital access and data can change business and society for the better».

Intel Becomes 2nd Strategic Investor In Jio Platforms After Facebook

India, home to 1.35 billion people, is growing fast, investors don’t want to miss these opportunities, especially when it comes to technological progress.

Technology Research Analyst Neil Shah tweeted that Intel’s investment will help provide Indian «5G networks a significant proportion of Intel solutions».

Ambani, the richest man in India, is trying to sell roughly 20% of Jio Platforms to raise money for debt-ridden parent company Reliance Industries, which is active in the oil and petrochemical industry. Her net debt is reported to be around $ 20 billion..

American investors such as KKR, General Atlantic, Silver Lake and Vista have invested billions in Jio platforms.

Intel invests in Jio Platform following Facebook

Last month, the UAE’s sovereign wealth fund Mubadala announced it would invest $ 1.2 billion in the company and the Saudi Arabia public investment fund $ 1.5 billion. Facebook’s investment is the company’s largest deal since the $ 19 billion purchase of WhatsApp..