RCOM has acquired US-based data communications company Yipes Holdings for $300 million.

RCOM has acquired US-based data communications company Yipes Holdings for $300 million. Yipes will reportedly function as a subsidiary of Flag Telecom, the submarine cable company of RCOM. Yipes, which has a 40 per cent share of the US data communications market, will enable RCOM to penetrate the global enterprise and institutional data market. The company reportedly owns over 22,000 route km of fibre across 14 cities in the US and is also present in London, Hong Kong and Tokyo.

Meanwhile, RCOM is planning to sell stake in Flag’s undersea cable unit through private placement of equity and international listing of shares by the end of 2007.