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News Breaks
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September 8, 2010
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| 16:10 EDT |  | TNS |
| theflyonthewall.com: | TNS to acquire Cequint | | TNS has entered into a definitive agreement to acquire Cequint, 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 $50M, subject to normal working capital and other adjustments, consisting of approximately $46.7M in cash and approximately $3.3M in stock issued to certain Cequint executives, and a potential additional $62.5M in cash for the achievement of future performance-based targets, for a potential total of $112.5M. The boards 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 4Q10. Following closing, TNS expects the transaction to add approximately $2M 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. :theflyonthewall.com |
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