Sify

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Sify Technologies Limited (formerly Sify Limited and Satyam Infoway Limited) (NASDAQ: SIFY) is an ISP based in Chennai, India.

1 Company Profile
2 New Leadership
3 India Presence
4 Litigation
5 References
6 External links

[edit] Company Profile

Sify is one of the largest Internet service providers in India. Almost 75 per cent^[1] of the 1.6 million visitors^[2] 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^[3].

Sify was an early pioneer in India in setting up internet portals (then www.satyam-infoway.com; now www.sify.com). When internet access was opened to private sector (until then the state run VSNL had a monopoly in providing internet access), Sify became the first private sector player to offer 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 took internet to the masses in India by setting up a chain of franchised internet cafes (today a network of over 3,300+ cybercafes) becoming the largest chain of cybercafes in India.

In 2007, Sify got the registration of its UK branching allowing to expand in the UK and European markets.

[edit] 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 of 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.^[4]

[edit] India Presence

As of March 31st 2006, it has 171 points of presence serving more than 250 cities in the country^[5] .

[edit] 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.(pdf)