The Hindu Business Line : Megasoft scouting to buy US co

Megasoft Ltd is looking to acquire a company in the US. Speaking to Business Line, Mr G.V. Kumar, CEO, Megasoft, said, "We are looking to take over companies with a good sales team and with access to quality clients. That is what we got when we earlier acquired 64 per cent stake in Beam AG in Germany."

Megasoft already services clients in the telecom and life sciences vertical. If the company it now acquires has skills in another vertical, that would be a welcome bonus, Mr Kumar said.

On Wednesday, Megasoft reported a net profit of Rs 20.11 crore for the year ended December 2005 compared to a loss of Rs 6.84 crore for the year ended December 2004. Revenues rose 36 per cent to Rs 115.43 crore.

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