Reliance Globalcom acquires UK-based Vanco for Rs 327 cr

New Delhi, May 26: Reliance Globalcom, subsidiary of Anil Dhirubhai Ambani-led Reliance Communications, today said it has acquired 100 per cent equity of the UK-based Global Managed Network Services provider Vanco Group Ltd at the payment of Rs 327 crore with a view to expand its global footprint.

The acquisition of Vanco will add over 220 MNCs to Reliance Globalcom customer base and Rs 1,550 crore to the annual revenue through secure long-term contracts with largest enterprise customers. ''The acquisition of Vanco is in line with Reliance Globalcom's vision to create one of the top five Global Datacommunications Enterprises in the world,'' Reliance Communications Chairman Anil Dhirubhai Ambani said in a statement. Vanco, with Rs 3,000 crore peak market capitalisation increases the Reliance Globalcom's tally of enterprise customers to over 1,400.

UNI