Sify to invest in technology start-ups

Written by feBureau | Chennai | Updated: Sep 6 2013, 15:43pm hrs
Sify Technologies
IT services company Sify Technologies (Sify) on Thursday announced it will explore avenues to invest in or partner with technology start-ups focusing on cloud, security and managed services. These investments or partnerships will be particularly directed at those companies with synergies to Sifys current business lines.

The aim is to strengthen and differentiate Sifys current service and product offerings both for domestic and international markets, and through strategic relationships with target companies outside of India, expand its presence in key markets outside. Sify will also seek to leverage the companys intellectual property in India, create new revenue streams and increase brand awareness.

According to a company statement, Sify had already called on August 21, R30 crore of capital from its 2010 subscription agreement with Sifys promoter group as initial funding for such investments. An additional R120 crore will remain available to Sify pursuant to the terms of that agreement, which may be called by Sifys board of directors as needed.