Reliance Completes Acquisition of Yipes

India's Reliance Communications Ltd. received FCC approval

for its acquisition of U.S.-based Yipes Holdings, and subsequently closed the deal. The U.S. $300 million acquisition of Yipes was first announced in July 2007. The transaction, closed on December 19, 2007, is a key milestone in Reliance Communications' plan to become a global data communications leader.



Yipes, which is based in San Francisco, has a strategic network presence in the top 14 U.S. metros. The company claims nearly 1,000 enterprise customers.



Reliance said the combination of Yipes' enterprise Ethernet services with the private undersea cable system of FLAG Telecom (another Reliance subsidiary) will enable the creation of a global service-delivery platform with unmatched coverage and capability.

http://www.reliancecommunications.co.in