updated 9/8/2010 11:16:51 AM ET 2010-09-08T15:16:51

TORONTO, Sept. 8, 2010 (GLOBE NEWSWIRE) -- Degama Software Solutions, Inc. (Pink Sheets:DGMA) announces this morning that it has signed an LOI with Conversations India Pvt. Ltd., an innovative Marketing and Advertising firm in India.  

Conversations India Pvt. Ltd. is a company which specializes in web advertising and marketing for Media, Software, Telecommunication and Internet-based companies.  Its primary focus is architecture and deployment of strategic advertising campaigns for new products and services.
 
"Conversations will work with Degama to implement our business plan in India," states Degama Software Solutions CEO Seijin Ki. "One of the major benefits in working with a boutique agency such as Conversations is that they are well-positioned in the industry and in tune with our target market regarding Degama initiatives in India."

Under the proposed agreement, Conversations India Pvt. Ltd. will source new clients for Degama while identifying and introducing prospective alliances, revenue streams and strategic partnerships with companies in the same sector as well as other media-based providers.

 "A company like Conversations is key to guiding and propelling Degama's growth and penetration in India. We are thrilled to be engaged in an LOI with them as the timing is excellent in line with discussions we are having with a distinguished Software App Marketing and Advertising Company in India which, upon final agreements, will begin selling Degama Software Solutions proprietary licenses to Regional licensees," states Ki.  "Though the complexity of the deal and sharing of technology therein has been a bit more lengthy than anticipated, our negotiations there have progressed well, and we expect a final agreement shortly, alongside a win-win with Conversations India."

Overall, according to Angel Research, who remains positive on their outlook for Indian IT sector: Indian IT players have been able to regularly add new clients throughout the country's recent Rupee appreciation, which would now boost their next stage of growth. With the global economy witnessing recovery and the renewed demand generated in the domestic IT services segment, we believe that the Indian IT sector will continue to post strong numbers in the coming years.

As well, The Indian information technology (IT) industry has played a key role in putting India on the global map. Thanks to the success of the IT industry, India is now a power to reckon with. According to the annual report 2009-10, prepared by the Department of Information Technology (DIT), the IT-BPO industry is expected to garner a revenue aggregate of US$ 73.1 billion in 2009-10 as compared to US$ 69.4 billion in 2008-09, growing at a rate of over 5 per cent. The report predicts that the Indian IT-BPO revenues may reach US$ 225 billion in 2020.


About Degama Software Solutions, Inc.

Degama Software Solutions, Inc. is a leading edge technology company that develops and markets proprietary location based software solutions and applications for consumers and businesses. Degama Software Solutions, Inc. is a publicly listed company (Pink Sheets:DGMA)

Degama Software Solutions Inc., (Degama) markets and builds applications, or "apps" to make it simpler and more enjoyable for people to share information and get things done together. In a vast world, Degama helps people navigate through their days and travels while at the same time staying connected to their friends, family and the world.

Degama is committed to developing and delivering the best products. As mobile devices become increasingly central to people's lives, we work hard to help you get the information you need when you are on the go. For more information about Degama Software Solutions please visit www.degamasoftwaresolutions.com

About Conversations India Pvt Ltd. 

At 'Conversations,' we don't just create online brochures for our partners, we don't just plainly sell our partners' products online. But we initiate 'Conversations' between our partners and their target group. We build and develop new touch points and at the same time, we leverage the existing online touch points to reach out to our stake holders. We are not digital gurus, we are not Social Media experts. We are a bunch of people who want to revolutionize the way Digital Medium works. We are real people who talk, who converse @ Conversations.

Safe Harbor: This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions.

Release Prepared by NMR, LLC

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved

Discuss:

Discussion comments

,

Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 4.95%
$30K home equity loan FICO 5.19%
$75K home equity loan FICO 4.58%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.40%
13.40%
Cash Back Cards 17.92%
17.91%
Rewards Cards 17.12%
17.11%
Source: Bankrate.com