Netmagic CEO on life after acquisition by NTT, global plans and mentoring startups
In 1998, Sharad Sanghi started datacentre company Netmagic and through a decade of IT evolution, it ventured into high-growth niche services like disaster recovery, cloud technology and application hosting, making it arguably one of the largest IT infrastructure services company in India. In 2008, Nexus Venture Partners and Fidelity jointly pumped in Rs 80 crore in 2008, followed by a Rs 70 crore investment led by Nokia Growth Partners and Cisco Systems in 2010 (Fidelity and Nexus Venture Partners also participated in that round). 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, providing one of the largest exits for Nexus. In a video interview with VCCircle, CEO Sharad Sanghi talks on life after acquisition by NTT, global plans and mentoring startups.