News
TNS Announces Completion of Acquisition
15 February 2013
TNS Inc. (“TNS”) (NYSE: TNS) today announced the completion of its acquisition by an investor group led by Siris Capital Group, LLC (“Siris”). Under the terms of the transaction, which was initially announced on December 11, 2012, Siris agreed to acquire TNS for $21.00 per share in cash. The transaction, valued at approximately $862 million, closed today following the approval of the acquisition by TNS stockholders and the receipt of all required regulatory approvals.
TNS, Inc. Closes Acquisition of Cequint, Inc.
04 October 2010
RESTON, Va. - TNS, Inc. 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.
TNS, Inc. to Acquire Cequint, Inc.
09 September 2010
TNS, Inc. a leading provider of critical data communications services for the telecommunications, payments and financial services industries, has entered into a definitive agreement to acquire Cequint, Inc., a private Seattle-based leader in carrier-grade caller ID products and enhanced services with top US-based mobile operators. The purchase price includes an initial payment of approximately $50 million, subject to normal working capital and other adjustments, consisting of approximately $46.7 million in cash and approximately $3.3 million in stock issued to certain Cequint executives, and a potential additional $62.5 million in cash for the achievement of future performance-based targets, for a potential total of $112.5 million. The boards of directors of both companies have approved the acquisition. The transaction, which is subject to the amendment of TNS’ senior credit facility, is expected to close early in the fourth quarter of 2010. Following closing, TNS expects the transaction to add approximately $2 million in revenue in the remainder of 2010, to be slightly dilutive to 2010 adjusted earnings, and to become neutral to adjusted earnings within 12 months.
TNS, Inc. Announces $50 Million Share Repurchase Program
08 September 2010
TNS, Inc. a leading provider of critical data communications services for the telecommunications, payments and financial services industries, today announced that its Board of Directors has authorized a repurchase program of up to $50 million of the company’s common stock over the next 18 months, subject to extension.
TNS Inc Closes Acquisition of Communications Services Group from VeriSign, Inc.
04 May 2009
TNS, Inc., a leading provider of business-critical, cost-effective data communications services for transaction-oriented applications, has closed its acquisition of the Communications Services Group (“CSG”) from VeriSign, Inc. (Nasdaq: VRSN).
The purchase price paid to VeriSign, Inc. was approximately $226 million in cash, subject to postclosing working capital adjustment, and was funded by TNS through the proceeds from a new $230 million Term Loan Facility.
TNS, Inc. to Acquire Communication Services Group from VeriSign, Inc. for $230 Million in Cash
02 March 2009
TNS, Inc, a leading provider of business-critical, cost-effective data communications services for transaction-oriented applications, has entered into a definitive agreement with VeriSign, Inc. (Nasdaq: VRSN) to acquire its Communication Services Group (“CSG”) for $230 million in cash.
