Sify Technologies Limited (NASDAQ Global Markets: SIFY), a leader in
Managed Enterprise, Network and IT Services in India with growing global
delivery capabilities, today announced that it will explore avenues to
invest in or partner with technology startups focusing on Cloud,
Security and Managed services.
These investments or partnerships will be particularly directed at those
companies with synergies to Sify's current business lines. The aim is to
strengthen and differentiate Sify's current service and product
offerings both for domestic and international markets, and through
strategic relationships with target companies outside of India, expand
its presence in key markets outside India. Sify will also seek to
leverage the Company’s intellectual property in India, create new
revenue streams and increase brand awareness.
Sify had already called on August 21, 2013, INR 30 crores of capital
from its 2010 Subscription Agreement with Sify's promoter group as
initial funding for such investments. An additional INR 120 crores will
remain available to Sify pursuant to the terms of that agreement, which
may be called by Sify's Board of Directors as needed. Sify's Board has
also approved the execution of an Amendment to the Subscription
Agreement removing the current September 2013 deadline to call the
balance of INR 120 crores, leaving such funds available for draw by the
Board at such time as it determines the funds are needed.
About Sify Technologies
Sify is among the largest integrated ICT Solutions and Services
companies in India, offering end-to-end solutions with a comprehensive
range of products delivered over a common telecom data network
infrastructure reaching more than 1100 cities and towns in India. This
telecom network today connects 36 Data Centres across India in addition
to Sify’s own 5 Tier III Data Centres across the cities of Chennai,
Mumbai, Delhi and Bengaluru.
A significant part of the company’s revenue is derived from Enterprise
Services; the different businesses units being Telecom services, Data
Center services, Cloud and Managed services, Application services and
Telecom Integration services. A varied product portfolio at multiple
price points allows Sify to also cater to the burgeoning demands of the
SMB/SOHO community and the retail consumer; much of it on the cloud
platform.
Sify is a recognized ISO 9001:2008 certified for Enterprise Sales,
Provisioning, support and customer relationship management of ICT
solutions and services including VPN, Network, Voice, Data Centre
hosting, Integration services, security services and managed services.
Sify has also built a credible reputation in the emerging Cloud
Computing market and has been certified in SSAE16 SOC2 Type II for Cloud
Infrastructure. Sify has licenses to operate NLD (National Long
Distance) and ILD (International Long Distance) services and offers VoIP
backhaul to long distance subscriber telephony services. With the Sify
Cable landing station and the partnerships inked with several cable
companies globally, Sify is present in almost all the spheres of the ICT
eco system.
The company has an expanding base of Managed Services customers, both in
India and overseas, and is also India’s first enterprise managed
services provider to launch a Security Operations Center (SOC) to
deliver managed security services.
As a solutions provider, Sify Software develops applications and offers
services to improve business efficiencies of its current and prospective
client bases. Sify also offers services in the specialized domains of
eLearning for-profit, not-for-profit and government institutions, both
in India and globally. The business also operates two of the most
popular portals in India, Sify.com and Samachar.com.
For more information about Sify, visit www.sifycorp.com.
Forward Looking Statements
This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. The
forward-looking statements contained herein are subject to risks and
uncertainties that could cause actual results to differ materially from
those reflected in the forward-looking statements. Sify undertakes no
duty to update any forward-looking statements.
For a discussion of the risks associated with Sify’s business, please
see the discussion under the caption “Risk Factors” in the company’s
Annual Report on Form 20-F for the year ended March 31, 2013, which has
been filed with the United States Securities and Exchange Commission and
is available by accessing the database maintained by the SEC at www.sec.gov,
and Sify’s other reports filed with the SEC.
Copyright Business Wire 2013