Reliance Globalcom, the arm of Reliance Communications (RCom), is all geared up to buy out the United Kingdom-based virtual network provider Vanco, say sources. Once this transaction is over and done with, it will result in strengthening RCom unit’s portfolio of data communication offerings. The term data communications is a broad one which crucially signifies easy transfer of data such as audio, video or text across a network.      

 

Speaking about this development, a source reveals that the deal will not be an all cash one. The source pointed out that UK’s Vanco may not be all that big now but once upon a time it commanded a market valuation of $800 million.  It was further informed that Vanco handles 200 clients across United States and United Kingdom in business spheres like banking and financial services, telecom, information technology and IT-enabled services.