Intel On Friday, the company announced that it would invest $ 253.5 million in Jio Platforms to join a list of high-profile investors, including Facebook and Silver Lake, who have supported India's leading telecommunications operators in recent months.
The chipmaker's investment arm announced that it will acquire a 0.39% stake in Jio Platforms, bringing the Indian company a $ 65 billion value. Intel Capital is the 12th investor to buy a stake in Jio Platforms, which has raised more than $ 15.5 billion since April of this year through the sale of a 25% stake.
“The focus of Jio Platforms on using its impressive technical capabilities to bring the performance of affordable digital services to India is in line with Intel's goal of delivering breakthrough technologies that enrich life. We believe that digital access and digital data can change companies and society for the better. With this investment, we are excited to drive digital transformation in India, where Intel remains important, ”said Wendell Brooks, president of Intel Capital, in a statement.
Today's announcement comes weeks after Mukesh Ambani, India's richest man who controls Reliance Industries – the parent company of Jio Platforms – announced that Saudi Arabia's $ 1.5 billion investment in its digital empire was on June 18 marked the "end of current development of Jio Platforms" phase of introducing financial partners. "
In a statement today, Ambani said he was excited to "work with Intel to improve India's high-tech capabilities that empower all sectors of our economy and improve the quality of life of 1.3 billion Indians."