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Reliance Globalcom, Stealth Communications forge Strategic Alliance to extend VOIP Network across 50 countries |
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Reliance Globalcom acquires U.K. based Global Managed
Network Services provider VANCO Group Limited |
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- Enhances
Reliance Globalcom’s annual revenues by $ 365 million
(Rs. 1,550 crores)
- Adds over 220
MNCs to Reliance Globalcom customer base
- Reliance
Globalcom Managed Network footprint expands to 163
countries
- Vanco’s peak
Market Capitalisation was $ 750 million (Rs. 3,000
crores)
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London / Mumbai, May 26th 2008: Reliance
Globalcom Limited, subsidiary of India’s largest
integrated telecom Service provider Reliance
Communications, today announced signing of an agreement
to acquire the London headquartered pioneering Global
Managed Network Services, VANCO Group Limited through
one of its wholly-owned subsidiary. The acquisition of
VANCO would add $365 Million (Rs. 1,550 crore) to the
annual revenue of Reliance Globalcom through secure
Long-term contracts with largest enterprise customers. |
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“The acquisition of VANCO is in line with Reliance
Globalcom’s vision to create one of the Top 5 Global
Datacommunications Enterprises in the world”, said
Mr. Anil Dhirubhai Ambani, Chairman, Reliance
Communications. “The combination of Reliance
Globalcom’s extensive capabilities and VANCO’s unique
global experience would create a new breed of integrated
services communications powerhouse”, he added. |
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VANCO is recognised by Gartner to be amongst world’s top
5 Managed Global Network players with over 220 MNC
customers. Its blue chip customer base includes AVIS,
British Airways, Siemens, Virgin Megastores. VANCO
increases the Reliance Globalcom’s tally of enterprise
customers to over 1,400. VANCO has been rated as Worlds
“Best Network Service Provider” for three years in a row
since 2005. VANCO Managed Network services are currently
available in over 40,000 locations across 163 countries.
90% of VANCO’s revenue is from developed markets of UK,
US, France and Germany. |
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Among the most valuable companies in Managed Network
Services, Vanco’s peak market capitalisation was over
$750 Mn (Rs. 3,000 crore). Under the acquisition
agreement, Reliance Globalcom would pay $ 76.9 Mn
(Rs.327 Crores) to acquire 100% equity of VANCO Group
Limited free of debt. |
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Reliance Globalcom, through this acquisition, would add
9 Network Management Centers to its integrated and
innovative global service systems and processes.
Reliance Globalcom would get a significant advantage
through VANCO’s relationships with over 700 global,
regional and domestic carriers capable of offering
services in 230 countries. Reliance Globalcom’s highly
experienced sales and channel organisation structure
would further enhance its customer delivery capabilities
in important geographies like US, UK, France, Germany,
Benelux, Singapore and Australia. |
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Punit Garg, President & CEO, Reliance Globalcom said
“The strong management team of VANCO led by Mark
Thompson along with Wayne Churchill will effectively
enhance the expertise and depth of enterprise customer
management at Reliance Globalcom. This will help the
technology groups in the company to leverage resources
beyond strategic business boundaries.” |
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Reliance recently acquired eWave World, a 4G operator
focused on emerging markets across Asia, Latin America,
Western Europe and Africa. Last year, Reliance Globalcom
had acquired a world leading US based Ethernet Service
provider, Yipes Holding Inc. for $ 300 Mn (Rs. 1200 cr)
in 2007. The company is investing $ 500 Mn (Rs. 2000
crore) and $ 200 Mn (Rs. 800 crore) in 4G and Global
Ethernet services respectively to expand its presence in
over 50 countries. Reliance Globalcom is also investing
$ 1.5 Bn (Rs. 6000 cr) in it’s fully IP enabled undersea
cable network expansion programme that would address the
global connectivity needs of over 90% of world
population across 60 countries in 6 continents. |
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About Reliance Globalcom:
Reliance Globalcom, a division of Reliance
Communications, spearheads the Global Telecom operations
of India’s largest Integrated Telecom Service Provider.
Reliance Globalcom brings together the synergies of
Reliance Communications Global Business encompassing
Enterprise Services, Capacity Sales, Managed Services
and a highly successful bouquet of Retail products &
services comprising of Global Voice, Internet Solutions
and Value Added Services. The company serves over 1200
enterprises, 200 carriers and 1.5 million retail
customers in 50 countries across 5 continents. |
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Reliance Globalcom’s wholesale product “Reliance FLAG”
is the worlds largest private undersea cable system
spanning 65,000 kms seamlessly integrated with Reliance
Communications over 1,10,000 kms of domestic optic fibre
provides a robust Global Service Delivery Platform
connecting 40 key business markets in India, the Middle
East, Asia, Europe, and the U.S. through an overlay
low-latency, global. MPLS-based IP network. Reliance
Globalcom’s Enterprise Division (formerly Yipes Inc.) is
a leading provider of managed Ethernet and application
delivery services for the global enterprise. The
patented custom data-networking solutions empower
businesses by delivering high performance, dynamic
control, unmatched service quality, and rapid ROI. For
further information, please visit
www.relianceglobalcom.com |
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About Vanco:
Established in 1988, Vanco is the pioneering and leading
global Virtual Network Operator. Vanco does not own
telecoms assets and therefore has the freedom to source
infrastructure from the most suitable Asset Based
Carriers (ABCs) on a global basis. It provides
enterprise clients, directly or through partners, with
cost-effective, optimized and fully managed network
solutions. Carriers can also extend their off-net reach
by accessing, through Vanco, other carrier networks
around the world. |
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Through the Vanco network solution clients get access to
the greatest geographic coverage available through a
single provider. Vanco offers incomparable flexibility
to customise and adapt the solution in line with market
changes and business priorities. |
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Vanco is recognised by
the industry for its financial success and world class
customer service delivery. A significant proportion of
its investment capital goes into customer care which is
reflected by the awards won, independent market research
and client retention. |
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