TOKYO -- Indian conglomerate Reliance Industries' digital arm Jio Platforms has secured $4.5 billion from Google, adding to a list of new investors that includes the biggest names in U.S. technology: Facebook, Intel and Qualcomm.
Google has agreed to buy a 7.7% stake in Jio, Reliance's billionaire owner and chairman Mukesh Ambani said Wednesday at the annual general meeting. The two companies have formed a strategic partnership under which they will jointly develop affordable smartphones for 4G and 5G networks, Ambani added.
