Cyfuture has announced that it plans to build a new data center facility in Noida with an initial investment of '50 crore. This new data center with an initial capacity of 500 racks will be an addition to its already existing Tier-III data center facilities in Noida and Jaipur. Construction work is in progress and the company expects to launch the facility by the end of the current calendar year.
The new Noida facility would be focused on delivering cloud data center solutions to businesses that are looking for local cloud facilities to host their virtual infrastructure on. Cyfuture currently offers Infrastructure-as-a-Service (IaaS) to more than 500 clients globally and expects this number to grow significantly with the launch of its new data center.
Tech Mahindra Acquires BIO Agency
Tech Mahindra has snapped up digital transformation firm UK-based entity, BIO Agency, for ┬ú40 million in an all-cash deal to expand its digital portfolio.
The consideration is the enterprise value of ┬ú40 million plus surplus cash not exceeding ┬ú5 million as at the completion date. The payment of ┬ú22 million and the surplus cash will be made upfront and the balance as deferred payments based on the company's performance. Though it is a small acquisition for the fifth-largest IT services player in the country, BIO is expected to help Tech Mahindra compete with larger global rivals, Accenture and Cognizant, who have been able to build strong digital portfolios largely driven by acquisitions of not just smaller IT firms but also buying digital agencies.
BIO specializes in digital transformation and innovation, helping organizations change the way they engage with their customers. The company recorded revenues of ┬ú12.5 million for FY16 and has a strong presence in the U.K. with 25-30 large clients, including Western Union, Coca Cola, BBC, and Microsoft.
CP GurnaniMD & CEO,
"A combination of BIO's visionary thinking and delivery with Tech Mahindra's IT to DT (digital transformation) strategy will enable and create digital services that get industries ready beyond just technology transformation, but a larger integrated customer experience."