Sify

Sify Technologies Ltd.
Traded as NASDAQ: SIFY, FWB: SIFY
Industry Internet
Genre Information and Communication Technology
Founded 12 December 1995[1][2]
Headquarters Taramani,[2] Chennai, India
Area served
 India,United States of America, United Kingdom,Singapore,Dubai[2]
Products Corporate network, Internet access, online portal, e-commerce, e-learning software[2]
Revenue Increase US$172,530,000 (FY 2012)[2]
Number of employees
 1,58,535[2]
Website sifycorp.com

Sify (formerly Satyam Infoway Ltd.)[3] is an information and communications technology company. It was a subsidiary of Satyam Computers before being sold to Infinity Capital Ventures.[4] Sify played an important role during the early spread of Internet and e-commerce in India.

History

In November 1999, Sify paid ₹122.20 crore for a 24.5% stake in IndiaWorld Communications. Later, it acquired the remaining shares for ₹325.40 on 30 June 2000.[3]

In 2000, Sify sponsored the India Olympics team.[5] In March 2001, Sify made an agreement with Makemytrip to run Sify's travel portal.[6] In January 2002, Sify announced prizes for most emails sent under a 6-week contest called "Sify Greenmail", promoting emails as an ecofriendly way of communication.[7]

Sify used to run the i-way chain of Internet cafes.[8] In 2002, Sify introduced wireless last mile connections with speeds up to 256 kbps.[9] By August 2003, it had over 1,000 i-Way cyber cafes in India.[10] In December 2003, Sify launched video-conferencing facilities in its Internet cafes.[11]

In 2004, Sify, with Level Up Games, launched a MMORPG.[12] 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 sold its remaining 31.61% shares in Sify to Infinity Capital Ventures, which is owned by Raju Vegesna, for US$62.62 million.[4]

References

  1. ↑ 1.0 1.1 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. ↑ 2.0 2.1 2.2 2.3 2.4 2.5 "Sify Technologies Ltd. ADS". Wall Street Journal. Retrieved 24 July 2014.
  3. ↑ 3.0 3.1 "Sify takes IndiaWorld with revised settlement". The Hindu Business Line. 3 July 2000. Retrieved 24 July 2014.
  4. ↑ 4.0 4.1 "Satyam sells Sify to Silicon Valley's Raju Vegesna". DNA India. 10 Nov 2005. Retrieved 24 July 2014.
  5. ↑ "Satyam sponsors Olympic team". Tribune India. 26 August 2000. Retrieved 24 July 2014.
  6. ↑ "Makemytrip allies with Coke, Maruti, Sify -- Travel portal targets 300% growth". The Hindu Business Line. 28 March 2001. Retrieved 24 July 2014.
  7. ↑ "Help plant more trees through ‘Sify Greenmail’". Tribune India. 19 January 2002. Retrieved 24 July 2014.
  8. ↑ "New entrant in Internet service - BSNL to introduce broadband network in city". The Telegraph (India). 26 May 2004. Retrieved 24 July 2014.
  9. ↑ "Last mile connection goes wireless". The Hindu. 11 April 2002. Retrieved 24 July 2014.
  10. ↑ "Cyber cafe opened at IGI airport". The Hindu. 20 August 2003. Retrieved 24 July 2014.
  11. ↑ "Sify launches video-conferencing". Tribune India. 10 December 2003. Retrieved 24 July 2014.
  12. ↑ "PC games becoming more popular in Chennai". The Hindu. 2 May 2005. Retrieved 24 July 2014.

External links