Private equity backed technology operations management firm Cybernet-SlashSupport (CSS) has appointed Sreenidhi Sharma as the new CEO. CSS has four lines of business – enterprise support services, customer support services, remote infrastructure management and application life cycle management. Sanjiva Singh, who was the interim-CEO of the firm, has now taken the postion of President in the company.
Prior to his joining in CSS, Sharma, who is popular in the industry as Nick Sharma, was heading the infrastructure management services (IMS) business at Satyam.
In July 2009, VCCircle reported that the firm has $30 million cash on its balance sheet and is looking to acquire a company which could augment one of its four businesslines. CSS mentioned that revenue size of the target firm could be up to $50 million.
Speaking on the appointment, Ravi Adusumalli, investor (SAIF Partners) and board member stated that over the last few years, CSS has established a strong referenceable customer base and Sharma’s expertise will further help CSS to enhance its next phase of growth.
Sharma said that he is confident to successfully enhance CSS Corp’s business objectives to support IT needs of its customers capitalising on its strong manpower, focused expertise, alliances and partners.
Prior to his stint at Satyam, Sharma was at Unisys, USA as Vice President and managing partner for infrastructure transformation services. He was also Vice President and General Manager at Nortel Networks in the US, Canada and Latin America and Vice president at Compaq. He is a BSc in Mechanical Engineering from Osmania University and an MS in Industrial Management from the University of Texas.
CSS is headquartered in California and has its main development centre in Chennai. It also has offices in USA, Europe and Philippines. In 2006, SAIF Partners had invested $22.5 million in CSS, which involved picking up of stake from Baring Private Equity India and some through fresh issue. In 2007, CSS further raised a $25 million in a round led by Goldman Sachs. Venture capital firm Sierra Ventures also holds a stake in CSS.