Reliance Communications, an Indian telecommunications company, has acquired Vanco, a global managed network services provider in the U.K., for US$77 million. It made the acquisition through its subsidiary Reliance Globalcom, which also runs and operates the Flag undersea cable system.
The acquisition of Vanco will add annual revenue of $365 million [m] to Reliance Globalcom, the company said on Monday. Vanco, a virtual network operator, offers its services in 40,000 locations across 63 countries, though 90 percent of its revenue comes from the U.S., U.K., Germany, and France.
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Source: PC World
May 26, 2008, 04:55 PM
