Reliance Platforms is receiving another massive investment as the private equity firm Silver Lake has proposed to make an investment of rupees 5,655.75 crores in the Indian telecommunications giant.
Confirming the investment by the American private equity firm, Chairman and Managing Director, Reliance Industries Ltd., Mukesh Ambani, said, “I am delighted to welcome Silver Lake as a valued partner in continuing to grow and transform the Indian digital ecosystem for the benefit of all Indians. Silver Lake has an outstanding record of being a valuable partner for leading technology companies globally. Silver Lake is one of the most respected voices in technology and finance. We are excited to leverage insights from their global technology relationships for the Indian Digital Society’s transformation.”
The investment by the American private equity firm comes soon after Facebook’s investment in Reliance Jio.
Talking about the investment in the Indian telecom giant, Co-CEO and Managing Partner at Silver Lake, Egon Durban, said, “Jio Platforms is one of the world’s most remarkable companies, led by an incredibly strong and entrepreneurial management team who are driving and actualizing a courageous vision. They have brought extraordinary engineering capabilities to bear on bringing the power of low-cost digital services to a mass consumer and small business population. The market potential they are addressing is enormous, and we are honored and pleased to have been invited to partner with Mukesh Ambani and the team at Reliance and Jio to help further the Jio mission.”
Reliance Jio asserts that the investment by Silver Lake is a testament to the world-class digital platform that Jio has built, powered by leading technologies, such as Broadband connectivity, Smart Devices, Cloud and Edge Computing, Big Data Analytics, Artificial Intelligence, Internet of Things, Augmented and Mixed Reality and Blockchain.
Silver Lake recently invested in other tech companies such as Twitter, Dell Technologies, Alphabet’s Verily, Airbnb, Alibaba, Ant Financial, and Waymo units, among others.
Silver Lake’s investment in Jio Platforms would aid in building the Digital India vision for 1.3 billion people and businesses across the country, including small businesses, micro-businesses and farmers