Sify eyeing more acquisitions

By siliconindia staff writer   |   Friday, 27 August 2004, 07:00 Hrs
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NEW DELHI: Network and internet services company Sify Ltd on Friday said that it was looking for more acquisitions to grow its US business.

"Acquisitions is a part of our growth strategy. We will like to acquire companies to grow our client base in network managed services and regulatory compliance business," Sify's Managing Director and CEO R Ramraj told newsmen after the inauguration 2000th outlet of company's cybercafe chain iWay.

"Our priority is to grow international business and we will look at anything that catalyses it," he said.

In March, Sify acquired Chennai-based EAP, which helps its clients while they get ready for regulatory conditions laid down in the Sarbanes-Oxley Act passed after a series of big corporate scams in the US.

"All American companies have to make their financial statements in accordance with the Sarbanes-Oxley Act by September 15. For others, this deadline is one year from now. This field offers huge opportunities as a lot of companies would like to outsource a part of their work involved in complying with the new regulatory conditions," Ramraj said.

"While we have a sales team in US which is taking care of organic growth, we would like to acquire a company that gives us a window of access to new clients," he said.

For the network management business, he said the company can manage networks of clients from Chennai.

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