Reliance Globalcom, 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 through one of its wholly-owned subsidiary.
Reliance Globalcom would pay $ 76.9 million to acquire 100% equity of VANCO Group free of debt. The acquisition of VANCO would add $365 million to the annual revenue of Reliance Globalcom through secure long-term contracts with largest enterprise customers.
VANCO is amongst world’s top 5 managed global network players with over 220 MNC customers. 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.