Sify marks five years of Nasdaq listing

By siliconindia staff writer   |   Thursday, 21 October 2004, 07:00 Hrs
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NEW YORK: R. Ramaraj, chief executive of the Chennai-based Sify Ltd, rang the opening bell at the Nasdaq stock market here Tuesday to mark five years of listing for the Internet and network services company.

The event also coincided with the launch of the global infrastructure management services by the company that offers an Internet backbone in 72 cities in India.

"In conjunction with this event, we will be participating in a series of investor meetings in order to establish a dialogue with US investors as part of our ongoing efforts to build shareholder value," Ramaraj said.

Since its listing in 1999, Sify has grown at a compounded annual growth rate of 46 percent, with revenues jumping from $14 million in 1999-2000 to $61 million in 2003-04, the company said.

Over 50 percent of its income is from enterprise services and infrastructure managed services in the US.

"The successful listing on the Nasdaq in October 1999 played a critical role in Sify emerging as the leading Internet and network services company in India, attracting the best talent, clients and customers," Ramaraj said.

"This event comes at the same time as the launch of our Global Infrastructure Management Services, for which we already have a number of significant customer wins in the US," the Sify chief executive added.

Others present at the Wall Street bourse for the opening bell included Sify's president and chief operating officer George Zacharias and chief financial officer Anil Ahuja.

"Sify has had a remarkable journey from the time of its listing. They have built a world-class management team, infrastructure and processes," Ghanshyam Dass, Nasdaq's director for South Asia, said.

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