Megasoft to shift business base to US

Hyderabad-based Megasoft, a product-based technology company, announced today that its business headquarters will be moved to the US while the global delivery, research and development, and back office support system will be run out of India.

The company, which had acquired Boston Communications Group (bcgi) recently, also revamped its telecom business and changed its telecom brand to XIUS-bcgi besides unveiling a new logo.

Megasoft MD and CEO, G V Kumar, said that the company wanted to move its business headquarters to Bedford as the US and Latin America were its focus areas.

Kumar told reporters in Hyderabad on Tuesday that Ersin Galioglu, who was with bcgi since 1997, had been appointed as chief operating officer of XIUS-bcgi. The top management team would comprise senior managers from both XIUS and bcgi.

"With this strong new management team in place, the company has an aggressive growth plan for 2008. We plan to launch a number of new solutions and applications and rapidly expand our operations support system and infrastructure offerings," he said.

Kumar expects that Megasoft will post a turnover of about Rs 500 crore and a net profit of about Rs 100 crore during the calender year 2008 calendar.

Of the total turnover, the company's telecom business will account for Rs 300 crore. In the current year, the turnover is expected to be about Rs 300 crore.