Sify Technologies Limited (formerly Sify Limited and Satyam Infoway Limited) (NASDAQ: SIFY) is an Internet service provider established in 1998, based in Chennai, India.[1][2]
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Company profile
Sify is an Internet service provider in India. Seventy five per cent[3] of the 1.6 million visitors in 2008[4] to the web site sify.com hail from India. It was rated as one of "The ten top technology companies world-wide recommended for investment" by Fortune in 1999.[5]
Sify was one of the first private sector player to offer internet access, when internet access was opened to private sector (until then the state run VSNL had a monopoly in providing internet access). It leased international bandwidth from global vendors, domestic connectivity from telecom players and set up last mile connectivity by multiple methods: wi-fi connections using roof top antennae, copper connections using phone lines or cable tv connections. Sify also started providing internet network connectivity for business enterprises in India. Sify set up a chain of franchised internet cafes (today a network of over 3,300+ cybercafes).
In 2007, Sify got the registration of its UK branch.
New leadership
Sify is now owned by Mr. Raju Vegesna, the enterpreneur who has made several billion dollars with his other company Serverworks. He took over the company in June 2006 after Mr. Ramaraj quit as the company's CEO. Under the leadership of Mr. Raju, his company has earned a maiden profit after 10 years of its existence. It reported revenues of $ 128 million for the full financial year 2006-07, 17.9 % higher than the previous year and a Net profit for the year was $ 2.3 million compared to a net loss of $3.50 million for the previous fiscal.
Mr.Raju Vegesna is also CEO of a Silicon Valley start-up company, ServerEngines.[6]
India presence
It has 481 points of presence serving more than 400 cities in the country.[7]
Litigation
Sify admitted in its 2007 annual report that it was named as a defendant in a $4 million securities class action lawsuit (regards its 1999 American Depositary Share initial public offering) filed in the United States District Court for the Southern District of New York.[8]
References
- ^ Sify Technologies Ltd. The New York Times.
- ^ About us. www.sifycorp.com.
- ^ Almost 75 per cent of the visitors hail from India
- ^ 1.6 million visitors in 2008
- ^ Satyam Infoway among 10 top technology companies: Fortune. Daily Excelsior. December 17, 2000.
- ^ ServerEngines | Company | Management Team
- ^ Sify Technologies Limited (SIFY.O) (Consolidated Issue listed on NASDAQ Global Market). Reuters.
- ^ Sift Limited and Subsidiaries (2007). Sify corporation.
External links
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