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Tuesday, December 11, 2012

Siris Capital group to purchase TNS in $862 million deal, (NYSE: TNS)

Data communications company TNS Inc agreed to be bought by an investor group led by Siris Capital Group in a deal valued at about $862 million. Siris will pay $21 per share in cash, representing a premium of about 44 percent over TNS's closing price on Monday, TNS said.

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 37330.