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Megasoft's Telecom renamed as Xius-BCGI
By siliconindia
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Wednesday, 14 November 2007, 20:30 IST
Hyderabad: Megasoft announced the management's move to reorganize its telecom business following the acquisition of BCGI. The move is aimed at addressing the telecom products and services business with a new identity Xius-BCGI, which will have its marketing operations, based out of Bedford in the U.S. Ersin Galioglu has been appointed the COO of the new business unit.
"Globally the telecom sector is witness to significant consolidation even as new breed of specialised services providers such as mobile virtual network operators, who typically do not own their infrastructure, crop up," says G.V. Kumar, Managing Director and COO of Megasoft.
"The company is expected to close this fiscal ending December 2007 with revenues of Rs 290-300 crore. As we restructure operations and focus on two broad business lines of telecom services and outsourced product development with Blue Alley, the company is heading towards revenues of Rs 470-500 crore during 2008, with a profit of about Rs 100 crore," said Kumar.
Megasoft is in the process of concluding a few deals in the telecom business in the U.S. and Latin America and is evaluating business potential in the Indian market.
A new management team has been strengthened with Dan Carney to Head Operations, Ken Sonberg as Head of R&D and Vasant Kumar as Head of Global Services Delivery as well as back office.