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ADAG firm advised Reliance Communications on Yipes buy

Reliance Technology Ventures Limited (RTVL), a part of the Anil Dhirubhai Ambani Group (ADAG), on Friday said it advised Reliance Communications on its recent acquisition of US-based Yipes Holding.

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MUMBAI: Reliance Technology Ventures Limited (RTVL), a part of the Anil Dhirubhai Ambani Group (ADAG), on Friday said it advised Reliance Communications on its recent acquisition of US-based Yipes Holding.

Reliance Communications had earlier this week announced the acquisition of Yipes in an all-cash deal valued at Rs 1,200 crore, the largest-ever buyout by the ADAG flagship.
    
RTVL was incubated by the Anil Ambani-headed Group to leverage emerging technologies and markets and look ahead at future possibilities to enrich the group's eco-system, it said in a statement here.

RTVL, which recently appointed Harshal J Shah as Chief Executive, has also advised on USD 700-million deal with Yatra.com, India's largest online travel portal.

Besides, it has led the investment in a technology company which formed the basis of the largest venture capital transaction in the country, RTVL said in its statement.

It has an investment mandate to incubate new business ideas and invest in emerging and high-growth technologies with the strategy being to seek out and invest in promising technology, media and telecom companies worldwide in various stages of their lifecycle.

"RTVL helps build companies by leveraging the Group's worldwide customer base, technological knowledge, access to capital and the power of the Reliance ADA brand. While financial return is imperative, RTVL's greater mission is to spur innovation and inspire the entrepreneurial spirit to thrive," the statement added.

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