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