Tuesday, July 17, 2007

Reliance Communications Acquires Yipes For $300M

San Francisco-based Yipes, a provider of managed Ethernet services, was acquired Monday by Mumbai, India-based Reliance Communications Limited. The deal was worth $300M in cash. Yipes was founded in 1999, and provides Metro Ethernet and other Ethernet communications for enterprise customers. Yipes was backed by Norwest Venture Partners, Crosslink Capital, and others.