Sify Sold !
Sify, One of India’s largest Internet firms has been sold. Indian software services firm Satyam Computer Services Ltd. said on Thursday it had sold its entire 31.61% in Internet firm Sify Ltd. to US-based Infinity Capital Ventures Ltd. for $62.62 million.
Infinity also bought an additional 6.7 million new shares of Sify worth $37 million at about $5.60 each in a separate cash transaction, Sify said in a statement. Satyam said its sale, at $5.60 per American depositary share, would help it focus on IT services and unlock the value of its investment.
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Well, I never thought of Sify worth that much!!
Had too many bad experiences in past, slow websites, poor interface & usability, I just stopped going to the site some 3 years or so back!! Good for Satyam to have got this much!! I dunno what Infinity saw in it, other than harvesting the current userbase!! But then, they’ve only got a share in Sify & not the whole damn thing!!
Well, yes, but that’s the majority share and all that satyam had left in sify.