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CricInfo secures major strategic investment from India's biggest Internet company CricInfo Press Release - 5 June 2000
For further information, please contact:
Graham McKechnie CricInfo, the world’s leading digital cricket information company, has announced today that Satyam Infoway Limited (NASDAQ: SIFY), India's premier Internet and e-commerce company, has acquired a 25% stake in the company.
The acquisition is the first major international investment in the company. The deal further enhances the position of CricInfo's web site, www.cricinfo.com, as the undisputed leader in the global cricket internet market, and one of the largest sports web sites in the world. It will also allow CricInfo to consolidate and extend existing operations, further expand its coverage and content, and to exploit its dominant position through increased sales, marketing and e-commerce activity. CricInfo's Chief Executive Simon King said of the deal: "This is an extremely significant step for CricInfo as we build our business in line with our vision of being a major force in the global cricket economy. Satyam will bring us not just capital but also significant strategic opportunities as there are major synergies between the two companies' businesses and markets." Satyam Infoway CEO and Managing Director, Mr R. Ramaraj, said the investment in CricInfo was part of Satyam Infoway's strategy to strengthen its position in the cricket market. "Through investing in and working with CricInfo, we will offer a 'one stop shop' which is not only comprehensive but also user-centric." "CricInfo is far and away the market leader in publishing and distributing cricket content. That alone makes them an ideal partner, especially in our core Indian Internet market where cricket is a key driver of Internet usage." Simon King is looking forward to rapid growth. "This investment is just the start of our ambitious expansion plans. CricInfo is in a unique position - no other sports site has succeeded in establishing such market dominance in its field. The challenge now is to create new products, to bring the game to new audiences, and to generate new business." ABOUT CRICINFO LIMITED CricInfo Limited is the world's leading digital cricket information company. CricInfo’s web site, www.cricinfo.com, is the most popular cricket site in the world and is among the Internet’s most popular sports sites, estimated to reach more than fifteen million fans in 180 countries. The site generated 591 million page views during 1999, and recorded 95,536,300 page impressions during March 2000 alone. CricInfo has its Head Office in the UK, with regional offices in Australia, New Zealand, India, Pakistan, Sri Lanka, South Africa, the UK and Zimbabwe. CricInfo works with cricket boards and cricket organisations, blue chip companies and the media to deliver cricket content for a wide range of different platforms. It currently produces official sites for five of the nine Test-playing countries, and for a number of domestic teams worldwide. ABOUT SATYAM INFOWAY LIMITED SIFY is the largest private provider of Internet access and Internet services to consumers and businesses in India. As of end of March 2000, SIFY has more than 151,000 consumer Internet access subscribers. The Company's network presently serves 43 locations, covering approximately 220 cities throughout India. SIFY's products include consumer Internet access services, on-line portals and corporate network and technology services. SIFY's portal, www.satyamonline.com, is India's leading portal with services in areas such as travel, finance, health, news, career, cooking, entertainment and shopping in addition to e-mail, chat and search. As of March 2000, over 450 corporations use SIFY's business-to-business products and services. UUNet Technologies, Sterling Commerce and Open Market are some of SIFY's strategic partners. SIFY is presently the only Indian Internet Company to be listed in NASDAQ. For further information, please contact:
Graham McKechnie |
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