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Andhra Pradesh
Megasoft to acquire European firm
Special Correspondent
HYDERABAD: Megasoft Ltd, a Hyderabad-based telecom software company, is pursuing the acquisition of two new companies before the end of the year.
Though the deal is yet to be firmed up, the cost of acquisition of the European company is likely to be in the range of US $50 million, while a Latin-American company would be acquired for about US $10 million.
Following the acquisition of US-based BCGI last year, the company added five new clients, including ASpider in Europe and Zain in Middle-East, said G.V. Kumar, Managing Director of Megasoft.
The company’s revenue increased to Rs. 90.30 crore in the first quarter (January-March), a growth of 39 per cent over the corresponding period last year.
The company’s accounting year is from January to December. The net profit went up to Rs. 15 crore from Rs. 12 crore.
The company introduced two products in the first quarter this year – iEnergy (an intelligent network optimiser) and Xius New Payment Manager (an integrated payment software using credit cards and prepaid cards).
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