Reliance Communications – Reliance Globalcom unit Reliance Infocom BV, Netherlands acquires Global WiMAX Operator eWave World”
Reliance Communications Ltd has announced that Reliance Infocom BV, a division of Reliance Globalcom and wholly owned subsidiary of India’s largest integrated telecom operator Reliance Communications, on April 24, 2008 announced acquisition of a controlling stake in eWave World, a UK headquartered telco focused on the rapidly developing market for wireless telephony services using the WiMAX technology standard.
Over, the next 2-3 years, Reliance Globalcom, through the acquired Company eWave World, would invest around $ 500 Mn (Rs 2000 crore) to build and acquire WiMAX networks in emerging markets in Asia, Europe, Latin America and Africa. Recently eWave World had entered into a Joint Venture in China to invest in nationwide broadband operations. The Company holds WiMAX licenses and has received spectrum to commence WiMAX services in several countries.
“The acquisition of eWave World is a significant step, forward in Reliance Communications’ global growth strategy to directly reach out to Millions of Customers – both Corporate and Individual -through a best in class future proof Last Mile network”, said Mr. Punit Garg, CEO -Reliance Globalcom. “The 4G WiMAX network in 50 countries would enable us to offer the most diverse and unmatched suite of services to over 75% of global population in combination with Reliance Globalcom’s 1,15,000 km fully IP enabled optic network spread across 6 continents”, he added.
“Readily available, reliable and affordable broadband service is critical to the development of any economy. Today many emerging markets are effectively excluded from the full benefits of the internet because of a lack of broadband service. With the backing of Reliance, eWave World will deliver broadband services to business and residential customers in numerous emerging markets. We consider this represents a very significant opportunity for both eWave World and the countries in which we plan to Invest”, said Mr. Jay Metcalfe, Chairman – eWave World.
eWave World, was formed by a number of well known Industry veterans with a vision to become a major player in the rapidly developing market for wireless telecom services using the new WiMAX technology standard. The eWave World Executive team has a combined experience of over 150 man-years in the Global Telecom Sector.
The Founders of eWave World include:
Jay Metcalfe: Chairman / Founder, Former President and CEO of Millicom International Cellular, and a former shareholder and Director of Celtel – an African mobile operator.
Simon Duffy : CEO, Former President and CEO of NTL (UK’s largest broadband operator) and former CFO of the Orange Group
Peter Langkilde: President / Founder, Former Founder and President of End to End (a mobile data services Company) and a senior executive in BellSouth, Millicom International and Leap Wireless
Roderick Thomson : Founder / Director, An international investor in telecommunications businesses.
Last Year, Reliance Globalcom had acquired a world leading U.S. based Ethernet Service Provider, Yipes Holdings Inc for $ 300 Mn (Rs 1200 crore). Reliance Globalcom is investing $ 200 Mn (Rs 800 crore) to more than double the metro coverage in the U.S. to over 35 top metros. The Company has embarked on a $ 1.5 Bn (Rs 6000 crore) Next Generation Network fully IP enabled Undersea Cable expansion program that would address the global connectivity needs of over 90% of world population across 60 countries in 6 continents.