Reliance Communications (RCom) is set to acquire global virtual network operator Vanco, which is headquartered in London. According to sources close to the negotiations, most points have been agreed upon mutually and the deal is in its final stages. Source added that the deal would be inked by Monday and a formal announcement would be made the day after.While the deal’s final price is not yet known, Vanco’s market cap peaked at $800 million. The operator has over 200 clients in several countries including the UK, France, Germany, the US and Singapore. Vanco has secure long-term contracts worth over $650 million from its customers that would be accrued over the next three to five years. The company’s network, which covers over 230 countries, would give RCom’s geographic reach a significant boost. Similar to its earlier acquisitions, RCom is expected to retain Vanco’s workforce, including its top management, sources said. Besides increasing RCom’s virtual network, the acquisition would also give RCom over 800 new product offerings that Vanco has developed over the past 20 years.Earlier, RCom had acquired US-based Ethernet service provider Yipes and is now rolling out its proprietary services from the 14 American cities where it present as of now to over 40 countries. RCom also plans doubling Yipes’ coverage in the US. Towards the end of April, RCom had acquired eWave World, an emerging 4G operator focused on Asia, Latin America, Western Europe and Africa.
