Sify

Last updated

Sify Technologies Limited
TypePublic company
IndustryInternet
Genre Information and communications technology
Founded12 December 1995;28 years ago (1995-12-12) [1] [2]
FounderR. Ramaraj
Headquarters
Tharamani, Chennai, Tamil Nadu
,
India
Area served
  • India
  • United States of America
  • United Kingdom
  • Singapore
  • Dubai [2]
Key people
  • Kamal Nath (CEO)
  • Raju Vegesna (Chairman & managing director)
  • Vijay Kumar (CFO)
Products
RevenueIncrease2.svg₹2,507 crore (US$310 million) (March 2018) [3]
Number of employees
2,655 [4]
Website sifycorp.com

Sify Technologies Limited (formerly Satyam Infoway) [5] is an Indian information and communications technology (ICT) company providing telecom services, data center services, cloud & managed services, transformation integration services, and application integration services. Sify Technologies Limited played a role during the early spread of Internet and e-commerce in India. It has been listed on NASDAQ as SIFY since October 1999. Merrill Lynch was the underwriter for Sify's IPO on the NASDAQ. [6] Sify was founded and led to IPO by R. Ramaraj.

Contents

History

In November 1999, Sify paid ₹ 122.2 crore for a 24.5% stake in IndiaWorld Communications. It acquired the remaining shares for ₹ 325.4 crore on 30 June 2000. [6] [7]

In 2000, Sify sponsored the India Olympics team. [8] In January 2002, Sify announced prizes for most emails sent under a 6-week contest called "Sify Greenmail," promoting emails as an eco-friendly way of communication. [9] In March 2002, Sify made an agreement with Makemytrip to run Sify's travel portal. [10]

Sify used to run the i-Way chain of Internet cafes. [11] In 2002, Sify introduced wireless last mile connections with speeds up to 256 kbit/s. [12] By August 2003, it had over 1,000 i-Way cyber cafes in India. [13] In December 2003, Sify launched video-conferencing facilities in its Internet cafes. [14]

In 2004, Sify, with Level Up! Games, launched an MMORPG. [15] In June 2004, the Supreme Court of India set a legal precedent regarding domain names in the Satyam Infoway Ltd. v. Sifynet Solutions Pvt. Ltd. lawsuit. [1]

In November 2005, Satyam Computer Services sold its remaining 31.61% shares in Sify to Infinity Capital Ventures, which is owned by Raju Vegesna, for US$ 62.62 million. [16]

See also

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References

  1. 1 2 Anurag K. Agarwal (2010). Business and Intellectual Property: Protect Your Ideas. Random House India. pp. 59–60. ISBN   978-81-8400-167-9 . Retrieved 24 July 2014.
  2. 1 2 3 "Sify Technologies Ltd. ADS". The Wall Street Journal . Retrieved 24 July 2014.
  3. ↑ "Sify registers 41% growth in Jan–Mar qtr"
  4. ↑ "Sify Technologies Company profile". Craft. Retrieved 26 September 2019.
  5. ↑ "Satyam Infoway changes name to Sify Ltd". Rediff.com. 7 January 2003. Retrieved 12 August 2018.
  6. 1 2 Rao, Sidharth (2019). How I Almost Blew it: Incredible Lessons from India's Most Successful Digital Entrepreneurs. Westland Publications Private Limited. pp. 268–269. ISBN   9789388754378.
  7. ↑ "Sify takes IndiaWorld with revised settlement". Business Line . 3 July 2000. Retrieved 24 July 2014.
  8. ↑ "Satyam sponsors Olympic team". The Tribune . 26 August 2000. Retrieved 24 July 2014.
  9. ↑ "Help plant more trees through 'Sify Greenmail'". The Tribune . 19 January 2002. Retrieved 24 July 2014.
  10. ↑ "Makemytrip allies with Coke, Maruti, Sify – Travel portal targets 300% growth". Business Line . 28 March 2001. Retrieved 24 July 2014.
  11. ↑ "New entrant in Internet service – BSNL to introduce broadband network in city". The Telegraph (India) . 26 May 2004. Archived from the original on 29 July 2014. Retrieved 24 July 2014.
  12. ↑ "Last mile connection goes wireless". The Hindu . 11 April 2002. Archived from the original on 30 July 2003. Retrieved 24 July 2014.
  13. ↑ "Cyber café opened at IGI airport". The Hindu . 20 August 2003. Archived from the original on 5 August 2014. Retrieved 24 July 2014.
  14. ↑ "Sify launches video-conferencing". The Tribune . 10 December 2003. Retrieved 24 July 2014.
  15. ↑ "PC games becoming more popular in Chennai". The Hindu . 2 May 2005. Archived from the original on 19 August 2006. Retrieved 24 July 2014.
  16. ↑ "Satyam sells Sify to Silicon Valley's Raju Vegesna". DNA India . 10 November 2005. Retrieved 24 July 2014.
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