Intel Corporation has joined Facebook in acquiring a stake in Jio Platforms, a move that will help the companies get a soft landing in India’s 5G market. Intel stock is up.With the global advancement of the telecommunication industry, several tech companies are positioning aright to cash in on the new wave. The recent big deal is the potential of 5G technology which has the enormous capacity to redefine the digital landscape. As a proactive means to expand its footing, Intel Corporation (NASDAQ: INTC) is investing in Jio Platforms in a deal worth 0 million.The new partnership confirmed via a tweet from Reliance Jio has gotten a positive response from Wall Street investors as the shares of INTC closed at .13 on Thursday gaining %excerpt%.32 (0.54%). The trend is sustained after hours of
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Intel Corporation has joined Facebook in acquiring a stake in Jio Platforms, a move that will help the companies get a soft landing in India’s 5G market. Intel stock is up.
With the global advancement of the telecommunication industry, several tech companies are positioning aright to cash in on the new wave. The recent big deal is the potential of 5G technology which has the enormous capacity to redefine the digital landscape. As a proactive means to expand its footing, Intel Corporation (NASDAQ: INTC) is investing in Jio Platforms in a deal worth $250 million.
The new partnership confirmed via a tweet from Reliance Jio has gotten a positive response from Wall Street investors as the shares of INTC closed at $59.13 on Thursday gaining $0.32 (0.54%). The trend is sustained after hours of trading with a marginal gain of 0.15%.
The deal with Jio platforms can be another great addition to Intel Corporation as the two companies will harness Jio’s existing customer base for more product delivery.
Intel Capital, investment arm of Intel Corporation, to invest ₹ 1,894.50 CR. in Jio Platforms.#MukeshAmbani #Reliance #Jio #DigitalIndia #JioDigitalLife #WithLoveFromJio #IntelCapital #JioPlatforms pic.twitter.com/z3EefcYCq2
— Reliance Jio (@reliancejio) July 3, 2020
Trailing Intel’s Acquisition History
Intel’s current $250.36 billion market capitalization with total assets estimated to be $136.5 billion as of 2019 came through years of profiled acquisitions of companies that have added to the firm’s growth. Founded on July 18, 1968, by semiconductor pioneers Robert Noyce and Gordon Moore (of Moore’s law), and is associated with the executive leadership and vision of Andrew Grove. Since inception to date, Intel has successfully acquired more than 29 companies from around the world.
In 2010, Intel purchased McAfee, a manufacturer of computer security technology, for $7.68 billion. As a condition for regulatory approval of the transaction, Intel agreed to provide rival security firms with all necessary information that would allow their products to use Intel’s chips and personal computers. After the acquisition, Intel had about 90,000 employees, including about 12,000 software engineers. In September 2016, Intel sold a majority stake in its computer-security unit to TPG Capital, reversing the five-year-old McAfee acquisition.
Before the partnership with Jio Platforms, the most recent Intel acquisition was in May 2020, when the company announced the acquisition of Rivet Networks for an undisclosed sum.
How Jio Platforms Will Make the Difference Supported by Intel and Others
Intel’s $250 million will help the company to secure a 0.39% stake in Jio Platforms who have access to over 388 million 4G subscribers since its 2016 debut. As reported by CNBC, Wendell Brooks, Intel Capital President, wrote in a statement:
“Jio Platforms’ focus on applying its impressive engineering capabilities to bring the power of low-cost digital services to India aligns with Intel’s purpose of delivering breakthrough technology that enriches lives. We believe digital access and data can transform business and society for the better.”
Joining Facebook Inc (NASDAQ: FB) that invested $5.7 billion in April for a 9.9% stake in Jio Platforms, Intel Corporation will be leveraging the Jio Platforms to drive its 5G solution to India’s 1.35 billion population.
About Jio Platforms
Jio Platforms Limited is an Indian digital services company and a subsidiary of Reliance Industries Limited. In October 2019, Reliance Industries Limited (RIL) announced the creation of a wholly-owned subsidiary for its digital businesses. In November 2019, the subsidiary was named Jio Platforms. The US$15 billion liability of Jio was transferred to RIL and in turn, RIL received preferential shares of Jio Platforms. Established in 2019, the company owns India’s largest mobile network operator Jio and other digital businesses of Reliance.
Headquartered in Mumbai India, the company provides telecommunication and eCommerce services that have attracted investors from around the world including Facebook, Intel, and Silver Lake Partners amongst others. On 8 May 2020, Jio Platforms was reported to be the fourth largest Indian company by market capitalization. Since April 2020, Reliance Industries has raised US$16 billion by selling a 24.70% equity stake in Jio Platforms.
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.