Reliance Globalcom, the international operations arm of Anil Ambani-controlled Reliance Communications, has acquired a 90 per cent stake in British Virgin Islands-registered WiMax operator, eWave World, for an undisclosed sum.
The company will also make a $500 million (Rs 2,000 crore) investment through the acquired company in the next 2-3 years to build and acquire WiMax networks across 50 countries.
Worldwide interoperability for microwave access or WiMax is a telecommunications technology that provides wireless data over long distances through various mediums.
This is the third acquisition by the company as it had acquired US-based ethernet services provider Yipes Holdings for $300 million (Rs 1,200 crore) in July 2007.
The group also acquired a 10 per cent stake in French WiMax chip manufacturer Sequans Communications in February this year for an undisclosed sum.
"This acquisition will enable Reliance Globalcom to create the largest WiMax and broadband company in the world, banking on eWave World's presence across Latin America,