TNS, a provider of critical data communications services for the telecommunications, payments and financial services industries, has entered into an agreement to acquire Cequint, a private Seattle-based carrier-grade caller ID products and enhanced services with US-based mobile operators.
Under the agreement, TNS will initially pay $50m, and an additional $62.5m in cash for the achievement of future performance-based targets.
The additional performance-based payments are tied to the achievement of four specified profit milestones not to extend past 31 May 2014.
Cequint provides enhanced Caller ID services to mobile subscribers by working directly with handset manufacturers to pre-integrate their application for distribution by mobile operators in a revenue-share model.
The company said that Cequint is in the process of integrating its second generation enhanced Caller ID service with mobile operators and device manufacturers which includes delivery of caller name and additional innovative features designed to enhance the customer’s calling experience.
TNS CEO Henry Graham, Jr. said TNS acquisition of Cequint, the emerging leader in mobile enhanced Caller ID, is a natural extension of their Telecommunication Services Division’s capabilities.
"Combining our carrier-grade network and our identity and verification platform with the adoption of Cequint’s technology by tier-one mobile operators and OEMs will provide a very powerful offering that will extend TNS’ operator partnerships and enhance our ability to help these customers generate additional revenue, a key objective for us," Graham Jr. said.
