Boy Meets Girl was the songwriting team of George Merrill and Shannon Rubicam. The married (at the time) couple met at a wedding, and became a personal and professional couple. While they released an album in 1985, they were best-known as the songwriters behind the Whitney Houston hits "How Will I Know" and "I Wanna Dance With Somebody (Who Loves Me)."
"Waiting For a Star to Fall" was inspired by an actual shooting star that Rubicam had seen at a Whitney Houston concert. The song was originally offered to Houston, but her team passed, as they were moving in a more R&B direction. The song was then offered to Belinda Carlisle, who made a demo recording, but decided not to release the song.
As a result, when Boy Meets Girl released their second album, 1988's Reel Life, they were able to include the song. "Waiting ..." would go on to become the duos' signature song and biggest hit, reaching #5 on the charts, while the Reel Life album peaked at #50.
Sadly, the couple then went through a rough patch -- their third album, 1990's New Dream was not released by their label, and they divorced in the early 2000's. However, their professional collaboration continues to this day, I believe.
Cool trivia fact: The blonde girl in the video is the couple's daughter
Cool trivia fact #2: Boy Meets Girl is not a one hit wonder, as "Oh Girl," from their self-titled 1985 debut, hit #39 on the charts.
As an added bonus, here is Belinda Carlisle's demo recording of the same song: