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Megasoft Buys VisualSoft

MUMBAI -- Megasoft Limited (BSE CODE NO: 532408), a transnational Intellectual Property-driven, product-based technology company, today announced it has entered into an agreement to amalgamate VisualSoft Technologies (BSE CODE NO: 53221 NSE CODE VISUALSOFTEQ), a leading software solutions and Outsourced Product Development company. With this 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 4 – 6 months.

Megasoft has been a leader in providing R&D and innovative software solutions to mobile service providers and this acquisition is expected to help it to scale its product offering portfolio faster. The acquisition 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 & 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.”

Megasoft Ltd.

VisualSoft Technologies Ltd.

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