TNS (NYSE: TNS), which offers a range of networks and value-added services that enable transactions and the exchange of information in diverse industries, will be privatized by an investor group led by Siris Capital Group. The deal is valued at approximately $862 million, or $21.00 per share in cash, representing a premium of approximately 44% over the closing price on December 10, 2012 and 47% over TNS’ volume weighted average share price during the last 30 days.
Among its activities, operates the largest un-affiliated SS7 (Signaling System No. 7) networks in the United States. TNS also offers a suite of advanced signaling, intelligent database and nextgen services for telecom operators.
“Our Board is confident that this transaction is in the best interests of our stockholders, customers and employees,” said Stephen X. Graham, Chairman of the Special Committee of the TNS Board. “Engaging with Siris will help TNS work toward our goal of transitioning from a legacy network provider to building various value-added data communication applications.”
- TNS is based in Reston, Virginia.
