From Web Werks to Cloud Perks: NeoSOFT Plots NeoNXT’s Crore Climb

NeoSOFT, which recently completed its ₹1,400 crore sale of data center business Web Werks to Iron Mountain, is pushing aggressively into its cloud business, NeoNXT, with a target to turn it into a ₹500 crore company within three years. CEO Nishant Rathi stated that NeoNXT would be a separate company, with customized support, competitive pricing, and local hosting of data being the main differentiators from the international behemoths.

 

The company aims to capitalize on growing demand for domestic data storage, especially from Indian government departments and regulated industries, as data sovereignty laws get stricter. NeoNXT will offer public and private cloud services, leveraging NeoSOFT's consulting strengths and decentralized DevOps model. The first year will be spent on infrastructure creation and strategic client acquisitions, with government deals expected to catalyze revenue momentum in subsequent years. NeoSOFT also has its eyes on expansion in Eastern Europe and Africa, and a potential IPO in two or three years' time.

 

Source: The Hindu BusinessLine