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Reliance Technology Ventures Advises on $300 mn Acquisition of Yipes - Reliance Technology Ventures Limited advises in acquisition of Yipes Holdings, Inc. Reliance Communications acquires Yipes in an all cash deal valued at Rs. 1,200 crore ($300 million) - Relianceada.com
Reliance Technology Ventures Advises on $300 mn Acquisition of Yipes

 

PRZOOM - /newswire/ - Mumbai, Maharashtra, India, 2007/07/16 - Reliance Technology Ventures Limited advises in acquisition of Yipes Holdings, Inc. Reliance Communications acquires Yipes in an all cash deal valued at Rs. 1,200 crore ($300 million) - Relianceada.com.

   
 
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Reliance Technology Ventures Limited (RTVL), led by Mr Harshal Shah, played a pivotal role in Reliance Communication’s acquisition of US based Yipes Holding, Inc (“Yipes”), the leading provider of managed Ethernet Services. Reliance Communications, through an affiliate, is acquiring 100% of Yipes, in an all cash deal valued at Rs. 1,200 crore ($300 mn).

On the occasion, Mr Harshal Shah said, “Acquisition of Yipes is the largest acquisition by Reliance Communications and brings tremendous synergies to the Reliance ADA Group. RTVL will continue in its endeavor to advise the Reliance ADA Group in investing in new and promising technologies.”

This acquisition accelerates Reliance Communication’s penetration in the lucrative Rs. 400,000 crore ($100 billion) global enterprise data market. By synergising FLAG and Yipes, Reliance is poised to become the global leader in Ethernet, a Rs.100,000 crore ($25 billion) market worldwide by 2010. Yipes is strongly positioned in the Ethernet market and has strategic network presence in the top 14 US metros, accounting for 40% of the total US datacom market and has nearly 1000 enterprise customers. Yipes is the leading direct communications provider to various large enterprises. For example, Yipes network powers NASDAQ, the London Stock Exchange, Chicago Mercantile Exchange, LexisNexis, and several government and health care solution providers.

RTVL has advised and/or invested in deals to the tune of over $700 million. Yatra.com, India’s largest on-line travel portal is one of its portfolio companies. RTVL has also led the investment in an unnamed technology company which formed the basis of the largest venture capital transaction in India.

About Reliance Technology Ventures Limited

Reliance Technology Ventures Limited (rtvl.co.in) is part of the Reliance ADA Group and has an investment and advisory mandate to incubate new business ideas and advice/invest in emerging and high-growth technologies. It seeks out and invests in promising technology (IT, ITES, hardware and semiconductors), media & entertainment, and telecom (TMT) companies worldwide. Its investments focus is on established and new technologies that advance the computing, communications, media and convergence platforms. RTVL aims to create an ecosystem which not only maximizes investor returns but also provides a fertile environment for the growth of the investee companies.

 
 
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Agency / Source: Reliance Technology Ventures

 
 

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Reliance Technology Ventures Advises on $300 mn Acquisition of Yipes

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Contact: Raksha Singh - Relianceada.com 
+91 22 30327039 raksha.singh[.]relianceada.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Reliance Technology Ventures securities in any jurisdiction including any other companies listed or named in this release.

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