Megasoft To Buy US Firm For $65 Million

Hyderabad: Megasoft Ltd, telecom technology solutions provider, has completed a definite agreement to acquire US-based Boston Communications Group, Inc (BCGI) in an all cash deal valued at $65 million. The boards of both the companies have approved the deal. Megasoft will be filing a tender offer to purchase all the outstanding shares of BCGI at a price of $3.60 per share at a premium of 120 per cent over BCGI''s average closing at Nasdaq during the 30 days ended July 6, 2007.