HILLSBORO, Ore.--(BUSINESS WIRE)—Nov. 30, 2018-- Radisys Corporation (NASDAQ: RSYS), a global leader of open telecom solutions, today announced that the Committee on Foreign Investment in the United States (CFIUS) completed its review of the planned acquisition of the Company by Reliance Industries (RIL).
CFIUS clearance was the final governmental approval condition to closing the merger. With shareholder approval previously received on September 5, 2018, subject to the satisfaction or waiver of the remaining customary closing conditions, the parties expect to consummate the merger on December 7, 2018 or on such other date as the parties mutually agree. Upon the completion of the proposed transaction, Radisys shareholders will be entitled to receive $1.72 in cash per share, subject to the terms of the definitive merger agreement, and Radisys’ common stock will no longer be publicly traded and will be delisted from the NASDAQ Global Select Market.
Radisys (NASDAQ: RSYS), a global leader in open telecom solutions, enables service providers to drive disruption with new open architecture business models. Radisys’ innovative disaggregated and virtualized enabling technology solutions leverage open reference architectures and standards, combined with open software and hardware to power business transformation for the telecom industry, while its world-class services organization delivers systems integration expertise necessary to solve communications and content providers’ complex deployment challenges. For more information, visit www.Radisys.com.
Source: Radisys Corporation