Megasoft extends tender offer for Boston Communications

By Lisa Kerner

Charlotte, N.C., Aug. 27 - Megasoft Ltd. subsidiary Tea Party Acquisition Corp. extended its $3.60-per-share tender offer for all outstanding shares of Boston Communications Group, Inc. to 6 p.m. ET on Aug. 29.

The tender offer was previously set to expire at midnight ET on Aug. 24. Some 13,960,647 shares, or 78% of the outstanding shares, had been tendered in the offer as of that date, a company news release stated. Including notices of guaranteed delivery for 1,904,432 additional shares, about 88% of Boston Communications' shares had been tendered.

On July 11, Boston Communications announced it had agreed to be acquired by Megasoft for about $65 million. Megasoft conditioned the tender offer on 83% of Boston Communications' shares being tendered in the offer. A $1.97 million termination fee is included in the agreement.

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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