ADAG Group company, Reliance Communications just a while ago made an announcement to the Mumbai Stock Exchange that it has acquired Yipes Enterprise Services. goBroadband has an exclusive coverage on how the deal makes strategic sense for Reliance Communications.
Yipes is already profitable and this may mark its ambition to enter the lucrative Datacom market in the US. RCOM may also explore the opportunities in Remote Infrastructure Management a closely related area for it to operate maybe from one of its SEZs to avail tax incentives.
RCOM stock shot up 2.7% and is trading at Rs 570 on the National Stock Exchange.