Boston Communications Group
- Boston Communications Group
Boston Communications Group, Inc., more commonly called bcgi, was one of the largest prepaid mobile phone companies in the United States until 2007. In 2005, they settled a patent lawsuit brought by Freedom Wireless, a private intellectual property firm based in Phoenix, Arizona. bcgi and its co-defendant had lost a jury trial, which awarded Freedom $128 million in damages. The co-defendants agreed to collectively pay $87 million, of which bcgi's share was $55 million. [http://www.law.com/jsp/article.jsp?id=1153744533172] The stock price jumped from $2.09 to $4.01 upon news of the settlement, because the lawsuit threatened to drive the company into bankruptcy. [http://www.thestreet.com/newsanalysis/techtelecom/10298639.html]
On July 12, 2007, Megasoft Ltd. of Hyderabad, India agreed to purchase bcgi in a tender offer, which was settled a few months later. [http://www.boston.com/business/technology/articles/2007/07/12/indian_firm_to_buy_bcgi_for_65m/]
References
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2010.
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