News
Alaska Option Customers Realize ATM Communication Alternative with New TNS Solution
20 October 2010
Alaska Option has enhanced its services to customers by adding wireless ATM processing with TNSLink, a managed communication solution from Transaction Network Services (NYSE: TNS).
TNS, Inc. Closes Acquisition of Cequint, Inc.
04 October 2010
RESTON, Va. - TNS, Inc. (NYSE: TNS) a leading provider of critical data communications services for the telecommunications, payments and financial services industries, completed its acquisition of Cequint, Inc., a leader in carrier-grade caller ID products and enhanced services with top US-based mobile operators on October 1, 2010. The purchase price included an initial payment of $49.3 million, consisting of $46.5 million in cash and $2.8 million in TNS stock issued to certain Cequint executives, and may be adjusted in the future for a potential additional $62.5 million in cash for the achievement of future performance-based targets tied to the achievement of four specified profit milestones not to extend past May 31, 2014, for a potential total of $111.8 million. As part of the $49.3 million purchase price, Cequint paid off approximately $6.8 million in debt and TNS assumed approximately $0.4 million in cash. TNS expects the transaction to add approximately $2 million in revenue for the remainder of 2010, to be slightly dilutive to 2010 adjusted earnings, and to become neutral to adjusted earnings within 12 months. TNS will further refine these expectations and update its 2010 outlook in its third quarter 2010 report in November.
