Reliance Industries subsidiary Reliance Jio Infocomm Limited (Jio), signed a long-term strategic collaboration with Google Cloud to provide superior connectivity to billion Indians. The collaboration will further support Jios mission to digitize India with faster and better connectivity.
- Jio signed a long-term strategic relationship with a goal of powering 5G in enterprise and consumer segments across India.
- In addition, Reliance will also take advantage of Google Clouds scalable infrastructure thereby enabling its retail business to achieve better operational efficiency, modernize and scale for growth, and deliver better performance and experiences to customers.
The major deals and supports by Reliance Industries are featured below:
Aug 2020: The leading investment company British Columbia Investment Management Corporation, along with Brookfield Infrastructure Partners L.P, announced acquisition of a 100 per cent stake in a telecom tower company in India from a wholly-owned subsidiary of Reliance Industries Limited for approximately US$3.4 billion.
Aug 2020: Reliance Industries Limited announced that its subsidiary Reliance Retail Ventures Limited (RRVL) to acquire the Retail & Wholesale Business and the Logistics & Warehousing Business from the Future Group for approximately $3.6 billion.
July 2020: The search engine giant Google LLC announced a binding agreement with Jio Platforms Limited a subsidiary of Reliance Industries, for an investment of approximately $5 billion. Googles investment will translate into a 7.73% equity stake in Jio Platforms on a fully diluted basis.
July 2020: The wireless technologies leader Qualcomm Incorporated announced that its investment arm Qualcomm Ventures to invest approximately $110 million in Jio Platforms a leading digital platform provider in India. Qualcomm Ventures investment will translate into 0.15% equity stake in Jio Platforms on a fully diluted basis.
July 2020: The global energy company bp and Indias Reliance Industries Limited (RIL) announced the start of their new Indian fuels and mobility joint venture, Reliance BP Mobility Limited (RBML). As per earlier agreement bp has paid RIL $1 billion for a 49% stake in the joint venture, with RIL holding 51%.
July 2020: Jio Platforms Limited a wholly-owned subsidiary of Reliance Industries announced that Intel Capital will invest approximately $285 million in Jio Platforms. Intel Capitals investment will translate into a 0.39% equity stake in Jio Platforms on a fully diluted basis.
June 2020: Jio Platforms Limited, a wholly-owned subsidiary of Reliance Industries announced that global alternative asset firm TPG will invest approximately $683 million in Jio Platforms.
June 2020: Reliance Industries subsidiary Jio Platforms announced that Abu Dhabi state fund Mubadala Investment Co. of UAE will purchase around 1.85% stake of Jio Platforms, for approximately $1.21 billion.
May 2020: Jio Platforms, announced that KKR will invest approximately $1.7 billion into Jio Platforms. This is KKRs largest investment in Asia and will translate into a 2.32% equity stake in Jio Platforms on a fully diluted basis.
May 2020: Jio Platforms Limited announced an investment of around USD 990 million by a leading global growth equity firm General Atlantic. General Atlantics investment will translate into a 1.34% equity stake in Jio Platforms on a fully diluted basis.
May 2020: Jio Platforms Limited had announced that Vista Equity Partners will invest $1.7 billion into the company. Texas based Vistas investment will translate into a 2.32% equity stake in Jio Platforms on a fully diluted basis.
May 2020: Jio Platforms announced that Silver Lake will invest approximately $850 million into Jio Platforms. Jio is building a Digital Society for India with various apps and digital ecosystems.
April 2020: Jio Platforms Limited had announced that Facebook will invest approximately $6 billion in Jio Platforms for a 9.99% equity stake of the company on a fully diluted basis.
April 2020: Reliance Industries Ltd. (RIL) had announced that it will enhance its support to the service of the nation 24×7 in a collective fight against Covid-19. The company has already initiated a multi-pronged prevention, mitigation, and ongoing support strategy that is comprehensive, sustainable, and resilient.
About Jio Platforms Limited
Jio Platforms Limited is a world-class digital platform provider, headquartered in India. It is a wholly-owned subsidiary of Reliance Industries Limited. It is a next-generation technology company building a Digital Society for India by bringing together Jios leading digital apps, digital ecosystems and high speed connectivity platform under one umbrella in India. Jio provides digital platform and technologies such as Broadband connectivity, Smart Devices, Cloud and Edge Computing, Big Data Analytics, Artificial Intelligence and Internet of Things.
About Reliance Industries Limited
Reliance Industries Limited, headquartered in Mumbai, India, is a leading multinational company. RILs activities include petroleum refining and marketing, hydrocarbon exploration and production, petrochemicals, retail and digital services. The companys products and services portfolio touches almost all Indians on a daily basis, across economic and social spectrums.