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Silver Lake to buy stake in Jio Platforms: What you need to know about the US firm

Silver Lake announced on Monday it will be investing Rs 5,655.75 crore (about $746.8 million) in Jio Platforms, giving it a valuation of $65 billion, a 12.5% premium to the value implied by the Facebook investment.

Updated: May 04, 2020 10:30 IST

By HT Correspondent | Edited by: Meenakshi Ray, Hindustan Times New Delhi

For Silver Lake, this is the second investment in an Indian firm. It had invested in Bengaluru-based commodity trading and risk management software firm Eka Software in 2013. (Reuters)

Silver Lake, American private equity firm, has said it will buy about 1.15% stake in Jio Platforms, weeks after Facebook invested $5.7 billion in the digital arm of Mukesh Ambani-owned Reliance Industries Ltd.

Silver Lake announced on Monday it will be investing Rs 5,655.75 crore (about $746.8 million) in Jio Platforms, giving it a valuation of $65 billion, a 12.5% premium to the value implied by the Facebook investment.

Here are key things to know about Silver Lake:

* Silver Lake, which has approximately $40 billion in combined assets and committed capital, was launched in 1999 as a specialist firm focused on technology company investments.



* The portfolio of investments of the Menlo Park-headquartered PE firm collectively generates revenues of more than $204 billion annually.

* For Silver Lake, this is the second investment in an Indian firm. It had invested in Bengaluru-based commodity trading and risk management software firm Eka Software in 2013.

* It has invested in dozens of tech firms over the years. They include video game engine maker Unity, Skype, consultancy firm Gartner, Alibaba’s Ant Financial, and Chinese ride-hailing giant Didi Chuxing, several of it in recent weeks.

* Its portfolio also includes Airbnb, Motorola Solutions and City Football Group.

* Silver Lake sold Skype to Microsoft for $8.5 billion in 2011 in one of the most successful private equity exits in history.

* Silver Lake has invested in Expedia, Twitter (in which it invested $1 billion), Airbnb, Waymo, the self-driving unit of

Alphabet Inc, and ServiceMax this year. ServiceMax is a cloud-based provider of software used in inventory and workforce management.

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