Telecom Lead India: Sify Technologies is set to sell its
entire stake in MF Global Sify Securities India in an all cash deal.
According to the agreement entered with MF Global Sify
Securities India, MF Global Overseas and PhillipCapital Group, the Singapore
based financial services company, through its related companies, will buy a
majority stake in MF Global Sify Securities India.
The transaction is subject to regulatory and statutory
approvals in the respective countries.
Sify said a significant part of Sify’s revenue is derived
from corporate enterprise services, which include network and IT services,
connectivity, security, network management services, enterprise applications,
hosting and remote infrastructure management services.
The company is India’s first enterprise managed services
provider to launch a Security Operations Center (SOC) to offer managed
As a solutions provider, Software services develop
applications and offers services to improve business efficiencies of its
current clients and prospective client bases. Sify also offers services in the
specialized domains of eLearning for-profit, not-for-profit and government
institutions, both in India and globally.
The expanded commercial and consumer business addresses
the demands of the SMB/SOHO community. The business provides services for the
retail consumer on the Consumer cloud platform. Sify continues to provide
broadband connections for home and at public access points.