Netmagic CEO on life after acquisition by NTT & global plans
In 1998 Sharad Sanghi started started Netmagic, a company that provides and creates datacenter infrastructure for service-based enterprises. Through a decade of IT evolution, Netmagic ventured into high growth niche services like disaster recovery, cloud technology and application hosting, making it arguably the largest IT infrastructure services company in India. In 2008, a majority stake in the company was sold to Nexus Venture & Fidelity, who jointly pumped in Rs 80 crore in 2008, followed by a Rs 70 crore investment by Nokia & Cisco. But the company hit the limelight in January this year, when Japanese telecom major NTT Communications acquired 74 per cent stake in it for $116 million (Rs. 640 crore), valuing the company at close to $157 million (Rs 860 crore) and providing one of the largest exits for Nexus VP. In a video interview with VCCircle, CEO Sharad Sanghi explains what NTT Communications brings to the table, how the company is on its way to become a global player and his plans to mentor startups.
Source: Netmagic CEO on life after acquisition by NTT & global plans (Youtube).