Reliance Globalcom takes over Delaware start-up Onyx

Global cloud business firm Reliance Globalcom, which operates under Global Cloud Exchange brand, has acquired 100 per cent stake in Delaware-based start-up firm Onyx NewCo LLC (ONL).
"...The company through its wholly-owned subsidiary Reliance Globalcom Services Inc has acquired a newly incorporated company named Onyx NewCo LLC, a Delaware registered company on November 15, 2016," Reliance Communications said in a BSE filing.
As per details disclosed by RCom, ONL was incorporated in October 2016 and will be a telecom company that is yet to commence its business.
The stock of RCom ended at Rs 38.5, down 2.16 per cent compared to the previous close, on BSE today.