Reliance Communications acquires US based Ethernet service provider, Yipes Communications
Reliance communications acquired a US based Ethernet service provider, Yipes Communications (link here), for Rs 1,200 crore in all cash deal, reports Dnaindia. This will be the largest ever acquisition for reliance communications and this will give a larger foot print for Rcom in the USA.
Yipes is the leading provider of managed Ethernet and application delivery services for the global enterprise. Established in 1999, Yipes has pioneered Metro Ethernet and has developed leading-edge proprietary products to meet the exacting requirements of its customers. Yipes has nearly 1,000 enterprise customers, concentrated across 4 industry verticals - financial, legal, government and healthcare - which currently account for 50% of the Ethernet market.
Reliance will expand Yipes’ coverage within the U.S. and take Yipes to nearly 40 new markets globally.