Monday, 12 January 2009

Megasoft sees no major impact of World Bank Ban – India

Megasoft, a provider of revenue-generating solutions to MNOs and MVNOs including Sprint and Telefonica, has declared that the decision of The World Bank to bar it from outsourcing services will not have any financial impact on the operations of the company. As an impact, the company has now joined the list of companies, such as Wipro and Satyam that have been banned by The World Bank on the grounds of unfair practices.

Commenting on the ban, G.V. Kumar, Managing Director & Chief Executive Officer of Megasoft, said: “It came as a total surprise to us. We used to provide World Bank people to man their information technology (IT) systems, but we stopped doing business with them in 2007 itself”. The company derives approximately 60% of its revenues from telecom products.