Megisto Systems

About Megisto Systems

Megisto Systems Inc. was a developer of software and hardware for the mobile wireless networking industry, headquartered in Germantown, Maryland. The company was established in the summer of 2000 and was co-founded by Gordon Saussy, who also served as its president and CEO. Before founding Megisto, Saussy was the vice president of marketing for a division of Ericsson, a background that provided him with deep insights into the evolving demands for advanced wireless services, particularly in the European market.

The company focused on creating systems to manage the increasing complexity of wireless networks as they transitioned to support devices with constant, higher-bandwidth connections. Megisto's core product was a software-based subscriber services switch, known as MSDS. This platform was designed to deliver real-time prepaid, content-based, and event-based charging, along with subscriber service control. It aimed to provide mobile wireless and networking companies with the necessary network intelligence and stateful resiliency to offer personalized and profitable services to their mobile data subscribers. This was particularly relevant for European carriers who, having reached high levels of customer penetration, needed to generate new revenue streams by offering additional data services.

Megisto Systems operated on a venture-backed, business-to-business model, targeting wireless phone companies as its primary clients. The firm secured significant funding to fuel its growth, raising $12 million in a Series A round in June 2000, shortly after its inception. This was followed by a substantial $38.7 million in a Series B funding round in October 2001, which was intended to complete product development and establish a sales presence in Europe. The company was eventually acquired in July 2005.