In yet another significant development, Vista Equity Partners will pick up a 2.32% stake in Jio Platforms for Rs 11,367 crore, the third deal after Facebook and Silver Lake’s share acquisition plans.
Vista Equity investment has valued Jio Platforms at an equity value of Rs 4.91 trillion and an enterprise value of Rs 5.16 trillion.
“Like our other partners, Vista also shares with us the same vision of continuing to grow and transform the Indian digital ecosystem for the benefit of all Indians. They believe in the transformative power of technology to be the key to an even better future for everyone,” said Mukesh Ambani.
“We are thrilled to join Jio Platforms to deliver exponential growth in connectivity across India, providing modern consumer, small business and enterprise software to fuel the future of one of the world’s fastest-growing digital economies,” Robert F. Smith, CEO of Vista, said in a statement.
It is worth mentioning here that the social media giant Facebook earlier acquired a 9.9% stake in Reliance Jio for Rs 43,574 crore.
Also, US-based private equity firm Silver Lake decided to pump in Rs 5655.75 crore in Jio Platforms Ltd.
About Vista Equity:
Vista Equity has a track record of investing in cutting edge tech firms. Notably, this is the first sizable investment by the US-based PE firm in India.
According to sources, Vista is an unparalleled deal machine in its niche segment, sealing more than 180 software acquisitions over the last ten years. It has more than $55 billion in cumulative capital commitments.
With over 12,000 employees in India at present, Vista portfolio companies have a remarkable presence in India.