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Prodigy buys itself back from IBM, Sears

Published on .

Prodigy Services Co. starts a new life on Monday, with a new owner and a strong emphasis on international growth.

Prodigy on Sunday announced its acquisition by International Wireless, a communications company with a range of investments, and Prodigy management, including Ed Bennett, the company's president-CEO. Joining as a financial and strategic partner is Grupo Carso, a Mexican telecommunications company.

Terms of the transaction weren't disclosed, although an executive close to the company said the price tag was about $250 million, well below the $1 billion-plus invested by Prodigy's previous owners, IBM Corp. and Sears, Roebuck & Co.

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