Sify said on Tuesday it has acquired Us-based Globe Travels -- an e-ticketing company -- for an undisclosed sum. This acquisition marks Sify's entry into the fast growing online travel business, particularly e-ticketing, a company statement said.
Globe Travels, set up in 1993, is a leading player in India-US travel space and generated $11 million in 2005.
"This strategic acquisition will enhance our online offerings to customers and open up new sources of revenue," Sify's CEO R Ramaraj said.
According to a study, the total number of online transactions in 2005-06 is estimated to be around $262 million, of which $152 million is expected in the travel-related sectors.
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