Business Today magazine (sub. required) in its latest issue has a piece on Sify Ltd speculating if the company is up for sale to Yahoo (its CEO Terry Semel and co-founder Jerry Yang were in India two months ago looking for acquisitions). Sify’s Managing Director and CEO R. Ramaraj, however, denied any such plans, “The portal is core to our business. It is an integral part of our strategy and it is something we want to do to grow. Partnerships we can always look at, but we have no intention of selling any of our businesses.”
Sify is actually on a tremendous growth curve and several of their plans are just underway. It recently acquired Globe Travels to cash in on the US-India traffic. Its broadband portals are being rolled out and several content tie-ups have been struck. It’s using iWay cyber cafes for innovative purposes like entrance and departmental tests and even for screening contestants for TV shows. I guess Sify is just getting its feet firm on the ground and a lot of value is being created. They are unlikely to sell out this soon.
What do you think?
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