Megasoft acquires a German company
By Our Corporate Bureau | 05 Jul 2005
Chennai: The city-based Megasoft Limited has announced its plans to acquire a 60 per cent stake in beam AG, a German IT services company with a turnover of €1.4 million.
Announcing this from Germany, G V Kumar, CEO and MD, Megasoft, said, "This acquisition is an important step for us in line with our business growth strategy, and will give us the base for the expansion of our operations in Europe. Beam AG''s success in the telecom sector makes them an excellent inorganic growth partner and will give us quick entry into the European telecom market."
However the company is silent on the price at which the stakes will be bought.
Founded 1992 in Ulm, Germany, beam AG provides consulting and project management services for automotive, telecommunication and production industries all over Germany.
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