Armed with Rs 140 crore (Rs 1.40 billion) cash reserves, Internet company Sify Ltd on Friday said it is looking at acquisitions to grow its business.
"We have Rs 140 crore in bank. We would like to use it for acquisition to grow the business -- domestic and international -- and to see how we can take some of these services overseas also," R Ramaraj, managing director and CEO, Sify, told PTI on the sidelines of a conference in New Delhi.
Sify has already made four acquisitions, the biggest being IndiaWorld for about Rs 500 crore (Rs 5 billion).
"There are three ways we want to look at the opportunity -- organic, through partnerships and acquisitions -- primarily to get us into the new area of customer acquisition," Ramaraj said.
On the plans for domestic listing, he said: "There is nothing at the moment."
"We continue to grow. Our business plan is working. We grew 40 per cent in revenues; we turned cash profitable for the whole year and net profitable in the last quarter," he said.
The company, he said, is trying to look at remote services like network monitoring and application management.
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