MegaSoft Completes Boston Buy
BEDFORD, Mass. and HYDERABAD, India -- Megasoft Limited (BSE Code No.: 532408) today announced that it has completed its acquisition of Boston Communications Group, Inc. (NASDAQ:BCGI - News).
The merger follows the successful completion of the tender offer by Megasoft for all of the shares of bcgi for the price of $3.60 per share, net to the seller in cash, without interest. At the time the merger became effective, Megasoft owned in excess of 90% of bcgi's issued and outstanding shares.
Upon the closing of the merger, all remaining outstanding bcgi shares were converted into the right to receive $3.60 per share, net to the seller in cash, without interest. As a result of the merger, bcgi has become a wholly-owned subsidiary of Megasoft, bcgi shares will be delisted from the NASDAQ Global Market and will cease trading at the close of business today, and bcgi will cease to be a reporting company for purposes of the Securities Exchange Act of 1934, as amended.