CIOL:Megasoft merges with VisualSoft

MUMBAI: Megasoft Limited, a transnational intellectual property-driven, product-based technology company, today announced that it has entered into an agreement to amalgamate VisualSoft Technologies, a software solution and outsourced product development company.

With this approximately Rs 172 crores merger, Megasoft will be able to strengthen its products and total solutions offering in the global markets. This would be an all stock transaction with the ratio likely to be at the market price ratio.

The final ratio is subject to independent valuation and due diligence by both the companies. Megasoft expects the whole process to be completed in around four to six months, a Megasoft statement said.

This acquisition is expected to help it to scale its product offering portfolio faster. It also gives Megasoft additional resources in terms of back office for all the new contracts to be signed in Americas and Europe.

GV Kumar, MD and CEO, Megasoft Ltd, said, “The growing global telecom outsourcing to India and the fast expanding MVNO market meant that we needed to strengthen our operations. With almost 250 – 300 telecom trained expertise readily available, right here in Hyderabad with a terrific infrastructure and CMMi level 5 was a crucial clincher for this merger. The combined entity is well poised to win large and strategic outsourcing deals in Telecom, in the specialist domains of roaming, interoperability infrastructure, subscriber authentication and OSS technologies.”

GV Kumar to head the whole Megasoft operations including VisualSoft, post merger

Sudhakar R Gunturu, managing director, VisualSoft Technologies, said, “We see tremendous growth opportunities through this merger with Megasoft. 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.”

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