Megasoft to acquire Visualsoft
Domestic technology firm Megasoft says it has entered into an agreement to acquire Visualsoft for Rs 172 crore in an all-stock deal.india Updated: Oct 04, 2006 12:29 IST
Domestic technology firm Megasoft said it has entered into an agreement to acquire software solutions company Visualsoft for Rs 172 crore in an all-stock deal.
Megasoft said the deal, under which eight shares of Visualsoft would be replaced by five shares of Megasoft, was expected to close in 4-6 months, a company release said in New Delhi.
With the merger, Megasoft has added more than 250 telecom trained manpower and would be able to strengthen its products and total solutions offering in the global markets, it said.
It would also give Megasoft additional resources in terms of back office for all the new contracts to be signed in Americas and Europe, the release said.
"The combined entity is poised to win large and strategic outsourcing deals in telecom, in the specialist domains of roaming, interoperability infrastructure, subscriber authentication and OSS technologies," Megasoft MD and CEO GV Kumar said, who would also be responsible for the operations, post merger.
He said the growing global telecom outsourcing to India and the fast expanding MVNO market required strong operations of the company.
"This will enable us to offer a compelling portfolio of product engineering and other high end value added solutions to our customers across the globe," VisualSoft Technologies MD Sudhakar R Gunturu said.