Subscribe to receive Urgent Communications Newsletters
Catch up on the latest tech, media, and telecoms news from across the critical communications community
TeleCommunication Systems completes acquisition of Networks In Motion
Pursuant to the merger agreement, TCS issued former Networks In Motion shareholders approximately $110 million in cash and more.
December 22, 2009
1 Min Read
TeleCommunication Systems completed its acquisition of Networks In Motion, a privately held provider of wireless navigation solutions for GPS-enabled mobile phones. Pursuant to the merger agreement, TCS issued former Networks In Motion shareholders approximately $110 million in cash, $40 million in promissory notes, and approximately 2.2 million shares of TCS common stock valued at $20 million based on the volume weighted average stock price for 10 days prior to close, according to the company.
