Megasoft signs unprecedented multi-year, multi-million dollar ASP Agreement with Kyestone Wireless

Megasoft Ltd on June 11, 2007 has announced that its Telecom SBU XIUS has signed an unprecedented MVNO deal with US based Keystone Wireless. Through this exclusive multi-million, multi-year Application Service Provider (ASP) agreement, Keystone Wireless will enhance the subscriber experience and competitiveness of the US marketplace. Keystone Wireless will deploy the XIUS VOISE (Virtual Operator Integrated Services Engine) 3.0 convergent platform. Hyderabad, India based XIUS is a global leader and innovator in convergent communication solutions.

The Company also announced that in a separate strategically important move, it has made a multi-million dollar equity investment in Keystone Wireless and will be entitled to share revenues proportionate to their investment.

GV Kumar, CEO of the Company said, "We are very pleased about our partnership with Keystone Wireless, the company has proven itself as a highly capable operator over many years, and brings a high-quality US nationwide footprint to this MVNO offering."

Mr. Kumar added, "We see many opportunities to enable powerful GSM features that MVNO's have desired but were unable to tap into in the traditional reseller model in the US market, Additionally, we look forward to replicating this model in Europe and in Asia, and continuing to build on our commitment as a global leader in convergent communications technology".

The stock was trading at Rs.136, up by Rs.0.60 or 0.44%. The stock hit an intraday high of Rs.138.65 and low of Rs.135. The total traded quantity was 86004 compared to 2 week average of 95287.

Source : Equity Bulls

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