NTT cash support for Netmagic expansion
TECH TRENDS: Giant servers make possible a connected World
- Published 7.12.15
Calcutta, Dec. 6: Netmagic, the provider of data centre hosting and cloud services, plans to expand operations in India.
Japanese telecommunications major NTT Communications, which holds an 81 per cent stake in the company, has thrown its weight behind the plan. Netmagic aims to set up at least two more data centres in India in the next three years, providing the back-end server-side support to e-commerce, banking and financial service providers and media firms.
Nitin Mishra, senior vice-president (product and services) of Netmagic, said NTT had planned an investment of Rs 2,000 crore over the next two years, which would be utilised by Netmagic to expand its operations.
"Netmagic started its operations in 2000 as a start-up by Sharad Sanghi with a single data centre. But over the years, we have been able to grow our business and receive crucial financial support from angel investors and venture capitalists. Before NTT picked up a stake in 2012, we had about seven data centres, which subsequently was expanded to nine," Mishra said on the sidelines of Infocom, 2015, an ABP Group initiative.
The nine data centres have more than 6 lakh square feet of floor space. NTT's decision to infuse funds in Netmagic is in contrast to its other venture in India with Tata Teleservices through NTT Docomo.
"We had a well-developed managed hosting and cloud service system in which NTT was interested," Mishra said.
In October, Netmagic launched its largest data centre in Mumbai spread across 3,00,000 square feet. Dedicated hosting, cloud computing IT infrastructure, managed application hosting are some of the services that would be offered from this data centre.
Mishra said Netmagic had already received interest on its new data centre from various companies, including those from the east.