Sify to launch corporate networking services in overseas markets

Monday, 01 December 2003, 20:30 IST
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NEW DELHI: Sify Limited, one of India's leading Internet and e-commerce service companies, has decided to launch its money-spinning corporate networking services in overseas markets. "Corporate networking services is a key thrust area for us and we will continue to invest in this sector in the years ahead to expand our market reach," said George Zacharias, president and chief operating officer of Sify Ltd. "We are now working on plans to launch networking services for companies abroad. US is definitely the most attractive market for us for this service," Zacharias told IANS in an interview here. "Currently, we offer networking services to companies located in different part of India from our headquarters in Chennai. We are exploring the possibility of doing the same for companies located in US and other parts of the world." According to the official, the networking services, like web conferencing and web hosting, managed out of India would help American companies cut cost and become competitive. Network connectivity services help companies, both in new as well as old economy sectors, run mission-critical software applications and offers connectivity with customers, suppliers, vendors and staff. Sify's corporate networking services customers in India include Air-India, Whirlpool, Blue Star, HDFC, Ranbaxy, KPMG, Tata Steel, Lucent Technologies, Dupont, Morgan Stanley, and Singapore Tourism Board. Zacharias said Sify, which is Nasdaq listed, might launch its services in the US either through a tie-up with a local company there or through acquisition of a technology firm. "At the moment, we are interested in both the options. We have to determine which is the right way for us. We keep looking at acquisitions but there is no timeframe for this," he said. Sify, which also manages a chain of cyber cafes across the country under the brand name of iWays, plans to substantially increase its investment in Internet related services. The company Saturday launched video conferencing service at some of its cyber cafes as part of its efforts to expand Internet-based services. "We have 1,250 cyber cafes in 40 cities in the country. We are adding at least two iWays a day." Zacharias said Sify was working on its plans to get listed on the domestic bourses as the company's business continues to grow. "We see all our businesses growing very fast over the next few years." Satyam Computer Services Ltd., India's fourth largest software exporter, holds 32 percent stake in Sify and has been looking to sell all or a part of its stake, said the Sify official. Other large shareholders in Sify include Softbank Asia Infrastructure Fund Investor, VentureTech and the Government of Singapore. Zacharias said the company had managed to narrow down its losses in the last few quarters and its revenues registered a growth of 27 percent in last fiscal year to touch 2 billion. American depository shares of Sify, listed on the tech-laden Nasdaq stock exchange, closed on Friday at $5.29, representing a gain of 0.57 percent over its previous session's close.
Source: IANS
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