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Tuesday, December 11, 2012

Siris Capital group to purchase TNS for $518 mln, (NYSE: TNS)

TNS Inc, which provides data transmission services to banks and retailers, agreed to be taken private by an investor group led by Siris Capital Group for about $518 million.The cash offer of $21 per share represents a premium of about 44 percent to TNS's closing price on Monday.Including debt and cash, the deal is valued at about $862 million, TNS said.The company, founded in 1990, provides secure data networks to credit card companies, payment processors, retailers and telecom companies.

TNS, Inc. (TNS) is an international data communications company, which provides networking, managed connectivity, data communications and value added services to telecommunication firms, retailers, banks, payment processors and financial institutions. Shares of TNS remained unchanged at $14.56. In the past year, the shares have traded as low as $13.59 and as high as $22.84. On average, 76373 shares of TNS exchange hands on a given day and today's volume is recorded at 91330.