Anil Ambani group's global telecom arm Reliance Globalcom acquires UK-based Vanco; to pay Rs 327 crore for 100 per cent holding.

Through this acquisition, Reliance Globalcom would add nine network management centres to its integrated global service systems and processes.

Vanco managed network services are available in over 40,000 locations across 163 countries. About 90 per cent of the company's revenues are from developed markets of the UK, US, France and Germany.

Further, Reliance Globalcom would have significant advantage through Vanco's relationships with over 700 global, regional and domestic carriers capable of offering services in 230 countries.

"The strong management team of Vanco led by Mark Thompson along with Wayne Churchill will effectively enhance the expertise and depth of enterprise customer management at Reliance Globalcom.

"This will help the technology groups in the company to leverage resources beyond strategic business boundaries," Reliance Globalcom's President and CEO Punit Garg said in the statement.

In late afternoon trade, shares of Reliance Communications [Get Quote] were trading at Rs 545.60, down 4.67 per cent on the Bombay Stock Exchange.