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Sify acquires Globe: enters e-travel business
By agencies
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Tuesday, 06 June 2006, 19:30 IST
CHENNAI: Sify Ltd. took a step ahead by acquiring U.S. based Globe Travels, in an undisclosed financial deal. This acquisition marks the Chennai based consumer Internet and enterprise services provider enter the online travel business, specifically e-ticketing, the highest revenue and fastest growing sector in e-commerce.
Established in 1993 with an International Air Transport Association (IATA) accreditation, Globe Travels has over 100,000 customers in the U.S. and business relations with over 26 major airlines including 11 strategic carriers catering to the Indian section.
The CEO of Sify Ltd., R. Ramaraj said that Sify would utilize their news portal Samachar.net to aid Globe capture the large Indian diaspora in the U.S. The 3,300-iWay-cyber cafés of Sify Ltd. in 153 cities would operate as e-stores for existing and new customers to make travel arrangements or purchase e-tickets.
The Internet and Mobile Association of India foresee airline ticket sales online to account for $ 88 million and railways to follow with $ 63 million. IATAs deadline for 100 percent online ticketing in India by 2007 has given e-ticketing a further impetus and airlines to promote special fares and benefits.
Sify is planning to offer end-to-end travel services for U.S. travelers visiting India in the near future, stated Ramaraj. This would include an array of options like pilgrimages and holidays with the company tying up with various other agencies to enhance their services.
