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Qualcomm Ventures to invest upto Rs 730 cr in Jio Platforms

Monday, 13 Jul 2020
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Reliance Industries and Jio Platforms announced that Qualcomm Ventures, the investment arm of Qualcomm Incorporated, has committed to make an investment of upto Rs 730 crore in Jio Platforms. 
 
Qualcomm Ventures will invest in Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. 
 
Qualcomm Ventures’ investment will translate into 0.15 percent equity stake in Jio Platforms on a fully diluted basis. 
 
The investment will deepen the ties between Qualcomm and Jio Platforms to support Jio Platforms on its journey to rollout advanced 5G infrastructure and services for Indian customers. 
 
Jio Platforms, a majority-owned subsidiary of Reliance Industries, is a next-generation technology platform focused on providing high-quality and affordable digital services across India, with more than 388 million subscribers. 
 
Jio Platforms has made significant investments across its digital ecosystem, powered by leading technologies spanning broadband connectivity, smart devices, cloud and edge computing, big data analytics, artificial intelligence, Internet of Things, augmented and mixed reality and blockchain. 
 
The company’s vision is to enable a digital India for 1.3 billion people and businesses across the country, including small merchants, micro-businesses and farmers so that all of them can enjoy the fruits of inclusive growth. 
 
Qualcomm is the wireless technology innovator and the driving force behind development, launch and expansion of 5G. 
 
With more than USD 62 billion in cumulative research and development spend, 35 years of innovation and over 1,40,000 patents and patent applications, Qualcomm is committed to fueling innovation and fostering Indian technology advancement. 
 
Qualcomm Ventures is a global fund that invests in pioneering companies across the wireless ecosystem in areas like 5G, AI, IoT, automotive, networking and enterprise. 
 
In India, Qualcomm Ventures has invested in companies that address key domestic issues from Dairy, Transportation to Defense, and build world-class products for India and world market. 
 
The transaction is subject to customary conditions precedent. Morgan Stanley acted as financial advisor to Reliance Industries and AZB & Partners and Davis Polk & Wardwell acted as legal counsels. Trilegal acted as legal counsel for Qualcomm Ventures.
 
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