- Sify has reportedly sought a valuation between $1 billion to $1.2 billion. However, other financial terms are not disclosed.
- Sify’s American depositary receipts slipped 12.3% in the U.S. on Thursday amid a selloff in tech stocks resulting in a valuation of $484 million.
- Sify, led by CEO Kamal Nath, owns and runs data centers and India’s largest multiprotocol label switching (MPLS) network as per its website.
- It announced expanding its data-center footprint in cities including Mumbai, Noida, and Chennai in a January earnings call.
- Blackstone inked multiple deals in India lately, including the acquisition of the glass unit of conglomerate Piramal Enterprises Ltd and real estate assets from developer Prestige Estates Projects Ltd. Blackstone-owned Aadhar Housing Finance Ltd has filed a draft prospectus with India’s market regulator in January for a potential IPO valued at $1 billion.
- Also, Blackstone is set to acquire data-driven and technology-enabled provider Interior Logic Group Holdings, LLC from Littlejohn & Co. LLC, Platinum Equity, and other equity holders for $1.6 billion.
- Blackstone’s cash and cash equivalents amounted to $2.06 billion as of December 31, 2020.
- Price action: BX stock closed lower by 3.61% at $67.08 on Thursday. SIFY closed lower by 12.34% at $2.70.
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.