Megasoft completes tender offer for Boston Communications

By Lisa Kerner

Charlotte, N.C., Aug. 30 - Megasoft Ltd. said 15,781,431 shares, or 88.2%, of Boston Communications Group, Inc. stock were tendered in its offer ended Aug. 29.

The company intends to exercise its option under the merger agreement to purchase newly issued Boston Communications shares in order to own at least 90% of the total shares outstanding and to complete the short-form merger, a news release stated.

On July 11, Boston Communications agreed to be acquired by Megasoft for $3.60 per share, or about $65 million. The 20-day cash tender offer was through Megasoft's wholly owned subsidiary, Tea Party Acquisition Corp.

Chennai, India-based Megasoft is an information technology software company.

Boston Communications is a wireless communications services company based in Bedford, Mass.

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