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TPG to invest Rs 4,546.80 crore in Jio platforms

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NEW DELHI: Reliance Industries Limited and Jio Platforms Limited , India’s leading digital services platform, announced today that global alternative asset firm TPG  will invest Rs 4,546.80 crore in Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.

The investment will translate into a 0.93% equity stake in Jio Platforms on a fully diluted basis for TPG.

With this investment, Jio Platforms has raised Rs 102,432.45 crore from leading global technology investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, and TPG since April 22, 2020.

Jio Platforms, a wholly-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. Jio Platforms’ 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.

TPG is a leading global alternative asset firm founded in 1992 with more than $79 billion of assets under management across a wide range of asset classes, including private equity, growth equity, real estate and public equity. Over TPG’s more than 25-year history, the firm has built an ecosystem made up of hundreds of portfolio companies and a value-added network of professionals, executives, and advisors around the world. Its investments in global technology companies include Airbnb, Uber, and Spotify, among others.

Mukesh Ambani, Chairman and Managing Director of Reliance Industries, said, “Today, I am happy to welcome TPG as valued investors in our continued efforts towards digitally empowering the lives of Indians through the creation of a digital ecosystem. We have been impressed by TPG’s track record of investing in global technology businesses which serve hundreds of millions of consumers and small businesses, making the societies we live in better.”

Jim Coulter, Co-CEO TPG, said, “We are excited to partner Reliance to invest in Jio. As an investor in growth, change, and innovation for over 25 years – and with a longstanding presence in India — we are excited to play an early role in Jio’s journey as they continue to transform and advance India’s digital economy. Jio is a disruptive industry leader that is empowering small businesses and consumers across India by providing them with critical, high-quality digital services. The company is bringing unmatched potential and execution capabilities to the market, setting the tone for all technology companies to come.”

TPG is making the investment from its TPG Capital Asia, TPG Growth, and TPG Tech Adjacencies (TTAD) funds.

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. Shardul Amarchand Mangaldas & Co. acted as legal counsel for TPG.

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Ericsson has been ranked as the leader in the Frost Radar 5G Network Infrastructure Market 2024

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For the fourth consecutive year, Ericsson has been ranked as the leader in the Frost
Radar™ 5G Network Infrastructure Market 2024 analysis, highlighting the impact of the
company’s strategy to meet the evolving needs of communications service providers (CSPs).
Maintaining top ranking in the Frost Radar™ report over the past years has shown that
Ericsson’s investments in R&D and across a wide product portfolio – which includes all areas
of 5G network infrastructure as well as previous generations of network infrastructure – is
valued in a market where technology is constantly evolving.
The report has also acknowledged Ericsson’s sustained focus on offering the latest and
lightest energy-saving products and solutions. It also touched on the company’s Open RAN
plans.
Fredrik Jejdling, Executive Vice President and Head of Networks at Ericsson, says: “The
latest Frost Radar report highlights our unwavering commitment to innovation and technology
leadership through the most competitive portfolio. In a challenging market, we remain
focused on our customers and move forward with even greater determination.”

Commenting on Ericsson’s top ranking, Troy Morley, Industry Principal, at Frost & Sullivan’s
Information & Communication Technology group, says: “Ericsson has done an excellent job
keeping its current customers and adding new customers, including significant replacement wins over competitors. Ericsson has a significant pipeline of customers that have yet to move
to 5G but will over the coming years.”


Ericsson currently powers *160 live 5G networks in 68 countries, which is the highest level
that Frost & Sullivan has seen publicly reported.
“Ericsson’s strategy continues to center on CSPs’ evolving needs in all areas of the world,”
Morley says. “However, with its 2020 acquisition of Cradlepoint, Ericsson also is expanding
its role with enterprise customers.”

The report has also discussed the importance of the open and virtual RAN movement and
the belief that eventually open and virtual RAN will be the norm. “Ericsson’s step into offering
Open RAN solutions in 2024 will help make this movement a reality,” Morley says. “The
company plans to offer O-RAN-compliant solutions in 2024; Frost & Sullivan believes this will
result in significant growth in open and virtual RAN revenue.”

Commenting further on the report, Morley says: “Energy efficiency has been a buzzword for
a few years and Ericsson continues to tout solutions that are smaller and lighter and that
save energy, answering its customers’ needs. This will continue with its traditional RAN
solutions and accelerate with its new Open RAN offerings.”

The Frost Radar report measures growth rates in addition to absolute revenue and combines
them with several other factors to measure companies’ performance along the Growth Index.
The report also measures innovation for each company by assessing its product portfolio, the
scalability of its innovations, the efficacy of its R&D strategy, and several other factors.
The latest report from business consulting firm Frost & Sullivan reaffirms Ericsson’s
leadership in the 5G network infrastructure market, which spans radio access networks
(RAN), transport networks, and core networks.

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Ericsson Showcases differentiated connectivity for the value of 5G

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Ericsson (NASDAQ: ERIC) showcased its advanced 5G connectivity solutions and innovative 5G use cases based on differentiated connectivity at the Ericsson Imagine Live Roadshow today. Ericsson has announced the launch of a new software toolkit to strengthen 5G Standalone network capabilities and enable premium services with differentiated connectivity. The portfolio enhancement comes as the growth of new use cases and rising mobile user expectations on the quality of 5G experience are putting greater demands on network capacity and performance.

In the ‘Capture the value of 5G’ zone, experience sports like never before with the Enhanced Sports Experiences demo, where a feature-rich app allows sports clubs to engage directly with their vast fan bases, creating new revenue streams. Leveraging network slicing and APIs, service providers can ensure the ultimate fan experience and gain revenue share.In 2024, Ericsson is extending CSP slicing subscriptions to include micro-payments for short-term connectivity needs.

Another demo called Superior Uplink for Live streams, offers seamless real-time livestreaming via commercially available smart glasses, overcoming the hindrance of 5G upload speeds with Uplink Carrier Aggregation. This technology boosts upload speeds by combining frequencies, enhancing performance, promoting Standalone 5G adoption, and optimizing spectrum utilization.

In the ‘Programmable Networks’ zone, we’re showcasing how Ericsson is transforming the mobile network landscape by enabling elevated service differentiation for premium 5G experiences with Service Level Agreement assurance, revolutionizing CSP offerings. Ericsson’s new software toolkit with advanced RAN and Core capabilities empowers CSPs to seize growth opportunities by providing differentiated connectivity at scale. Another demo showcases how our RedCap technology supports CSPs’ business growth by reducing the complexity and size of device platforms for mid-tier use cases, expanding the 5G ecosystem to cater to diverse connectivity needs across consumer and enterprise/industrial segments on both FDD and TDD bands.

The ‘Enterprise Transformation’ zone showcases how critical infrastructure industries such as power plants, wind farms, and oil refineries can enhance worker safety and efficiency with our private 5G networks use case demos. Partnering with RealWear and OverIT, we enable secure, reliable, realtime access to complex data in order to provide an immersive connected worker experience for use in hazardous environments where accurate positioning and the ability to handle a high density of connected devices is required.

In the ‘Shape our Future Together’ zone, we’re building on the successful API showcase at Mobile World Congress 2023 with partners like Zoom and Blacknut. This year we are demonstrating high-demand use cases with world-leading brands such as Toyota and Sony using QoD API with network slicing. This underscores Ericsson’s thought leadership in the Network API and 5G monetization space, aligning with our strategy to build a platform business and our vision of industry cooperation with strong partners.

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Airtel announces its largest ever 5G roll-out in 125 cities

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NEW DELHI: Bharti Airtel, India’s telecommunications services provider, today announced the launch of its ultra-fast 5G services in 125 cities. Airtel 5G Plus service is now available to customers in over 265 cities in the country.

Airtel 5G Plus has three compelling advantages for customers. First, it runs on a technology that has the widest acceptance in the world with the most developed ecosystem. This ensures that all 5G smartphones in India seamlessly work on the Airtel network. Second, the company promises to deliver the best experience – between 20 to 30 times higher speeds than today coupled with brilliant voice experience and super-fast call connect. Finally, Airtel 5G Plus network will also be kinder to the environment with its special power reduction solution. Powered by the reliable Airtel network infrastructure, Airtel 5G Plus will provide superfast access to High-Definition video streaming, gaming, multiple chatting, instant uploading of photos et all.

Commenting on the launch, Randeep Sekhon, CTO, Bharti Airtel said, “5G has revolutionized the world of internet, ushering new era of connectivity and communications that will prove to be a game-changer for the country. At Airtel, we remain committed to delivering the highest quality of network and service to our customers as we roll-out 125 more cities today. Airtel was the first in the country to offer 5G services in October 2022, and today’s mega launch is our promise to connect every Airtel customer in the country with ultra-fast Airtel 5G Plus. Our 5G rollout is on track to cover all towns and key rural areas by March 2024.”

Airtel 5G Plus service availability will continue to rapidly expand – including service in all towns and villages in the country soon – as the company is working towards offering nationwide coverage. Airtel is now offering its 5G services in every major city from the upper northern city of Jammu to the southern tip of Kanyakumari.

In the last one year, Airtel has demonstrated the power of 5G with a host of powerful use cases that will change the way customers lead their lives and do business. From India’s first live 5G network in Hyderabad to India’s first private 5G network at the BOSCH facility in Bengaluru to partnering with Mahindra & Mahindra to make its Chakan manufacturing facility, India’s first 5G enabled auto manufacturing unit, Airtel has been at the forefront of 5G innovation.

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