Sify.com, one of the three big online portals in India, has sold a big stake of the company for about $62.6 million. Satyam Computer Services, the IT company which owned about 31 percent of Sify.com, sold its stake off to Silicon Valley investment firm Infinity Capital Ventures…In addition, Infinity has also bought an additional 9-10 percent stake in the company for another $37 million, and now hold 40 percent stake in Sify.com.
Infinity is controlled by Silicon Valley entrepreneur Raju Vegesna, one of the founders of ServerWorks, which was acquired by Broadcom in 2001 for about $1.8 billion.
Sify’s shares are listed in the form of American Depositary Shares on the Nasdaq stock exchange.
Reuters: Satyam Chairman B. Ramalinga Raju said after an original investment of $5 million in Sify, Satyam had made $117 million to date. Sify said it would continue to focus on consumer services, including portals and internet access, corporate services and international IT infrastructure management services. It would also look at investing in portals and acquisitions for growth.
More details in the release…
Subscriber content
?
Subscriber content comes from Gigaom Research, bridging the gap between breaking news and long-tail research. Visit any of our reports to learn more and subscribe.
Advertisement
Advertisement
Advertisement
Comments have been disabled for this post