Sify Technologies to make investment in Technology Start-ups

 In order to strengthen and differentiate its current services and product offerings for both domestic and international markets, and through strategic relationships with target companies outside of India, expand its presence in key markets outside India, Sify Technologies has announced that it will explore avenues to invest in or partner with technology start-ups focussing on Cloud, Security and Managed services.

These investments or partnerships will be particularly directed at those companies with synergies to Sify's current business lines. It will also seek to leverage the Company's intellectual property in India, create new revenue streams and increase brand awareness

Sify also announced that it had signed a subscription agreement of INR30 crore  of capital from its 2010 Subscription Agreement with Sify's promoter group as initial funding for such investments.

An additional INR120 crore will remain available to Sify pursuant to the terms of that agreement, which may be called by Sify's Board of Directors as needed. Sify's Board has also approved the execution of an Amendment to the Subscription Agreement removing the current September 2013 deadline to call the balance of INR120 crore, leaving such funds available for draw by the Board at such time as it determines the funds are needed.