After Facebook deal, Mukesh Ambani's Jio platforms get Rs 5,656 investment from Silver Lake
NEW DELHI: days after the mega deal on its digital arm Jio Platforms, Mukesh Ambani The Reliance group announced on Monday an investment of Rs 5,656 crore by the US-based private equity firm, with a premium of 12.5% on the latest transaction.
Facebook had invested Rs 43.574 crore in Jio Platforms on April 22, and the new one shows the growing interest of global investors in the business of Jio Platforms, which is also the holding company for Reliance Jio, the largest telecommunications company in the country.
Commenting on the transaction, Mukesh Ambani, chairman and managing director of Trusted industries Silver Lake has an outstanding track record of being a valued partner to the world's top technology companies, he said. Silver Lake is one of the most respected voices in technology and finance. We are excited to harness the insights from its global technology relationships for the transformation of the Indian digital society.
Silver Lake is a world leader in technology investment, with more than $ 43 billion in combined assets under management and committed capital, and a team of approximately 100 investment and operations professionals located worldwide. Companies where he has previously invested include Alibaba, Airbnb, Dell, Didi Chuxing, Hyla Mobile, Ant Financial, Alphabet’s Verily and Twitter.
Egon Durban, co-CEO and managing partner of Silver Lake, said that Jio Platforms is one of the most notable companies in the world. They have brought extraordinary engineering capabilities to bring the power of low-cost digital services to a large population of consumers and small businesses.