Jump to content

Boston Communications Group

From Wikipedia, the free encyclopedia

This is an old revision of this page, as edited by BattyBot (talk | contribs) at 12:53, 8 February 2015 (Fixed author and/or language parameters in citation templates, General fixes using AWB (10810)). The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.

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.[1] 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.[2]

On July 12, 2007, Megasoft Ltd. of Hyderabad, India agreed to purchase bcgi in a tender offer, which was settled a few months later.[3]

References

  1. ^ "Cell Phone Billing Company Reaches $87M Settlement in Patent Case". Law.com. Retrieved 2010-05-18.
  2. ^ TSC Staff (2006-06-30). "Boston Pops | Telecom | Financial Articles & Investing News". TheStreet.com. Retrieved 2010-05-18.
  3. ^ Weisman, Robert (2007-07-12). "Indian firm to buy BCGI for $65m - The Boston Globe". Boston.com. Retrieved 2010-05-18.