By Patrick Frater Asia Bureau Chief U.S. tech investor Vista Equity Partners is to spend $1.71 billion buying a stake in budding Indian media powerhouse Jio Platforms.
The two companies announced their deal less than two weeks after Facebook paid $5.7 billion to buy a 9.9% stake in Jio, and days after another financial investor Silver Lake paid $750 million.
Jio, which was launched less than four years ago and is owned by India’s largest conglomerate Reliance Industries, has raised over $8.1 billion in the space of three weeks.
The deal gives Vista a 2.3% stake in Jio Platforms and makes it the third largest shareholder after Reliance Industries and Facebook.
Read more on variety.com
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