TeleCommunication Systems completes acquisition of Networks In Motion

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.