Saturday, May 15, 2021

Koch Equity Development Affiliate Reaches Agreement to Acquire Transaction Network Service in Long-Term Growth Strategy

An affiliate of Koch Equity Development LLC, the investment and acquisition subsidiary of Koch Industries, Inc. (collectively, “Koch”), has announced that it has agreed to acquire Transaction Network Services, Inc. (“TNS”) from affiliates of Siris Capital Group, LLC and other holders of minority shares of TNS. TNS provides essential secure connectivity and interoperability solutions through a managed global network enabling customers to exchange data and information and conduct transactions around the world. Koch made its first investment in TNS in January 2016. The acquisition, in stages, follows a similar approach taken by the company during the2016 and Infor in 2020.

TNS, a global leader in infrastructure as a service, will continue to operate under the current leadership of the company from its headquarters in Reston, Virginia. It is one of the leading network management connectivity platforms. It aims to pursue innovation among its customers in its core service offerings in payments, financial services and communications as well as to extend its reach to new high growth markets, notably 5G, operations. ultra-low latency security, electric vehicle charging, smart parking, digital payments and other Internet of Things (IoT) verticals. TNS, through its Cequint brand offer,

TNS will help strengthen Koch’s ongoing approach to technology transformation. Over the past few years, Koch’s companies have invested more than $ 30 billion in technology, transforming a global portfolio of companies spanning multiple industries. This investment underscores Koch’s confidence in TNS’s commitment to its customers and its networking expertise that enables the company to leverage its capabilities globally. Under Koch ownership, TNS will be stably owned and will have significant access to capital. This will allow the company to focus more quickly on opportunities for organic and inorganic growth.

“Today marks the start of an exciting new chapter for TNS, its current and future employees and customers. With this acquisition, we will be able to accelerate our mission of empowering our clients to focus on growing their businesses without worrying about the increasingly complex challenges associated with the secure transmission of transactional data. essential and urgent, said Mike Keegan, CEO of TNS. We have enjoyed a close partnership with Koch over the past five years, and this agreement marks the natural culmination of those years of collaboration. At Koch, we will deliver more value to our customers faster by investing more in new technologies and current and future services, which is essential to our long-term growth strategy. ”

“The acquisition of TNS follows more than five years of engagement with the company, not only as an investor, but also as a client,” said Brett Watson, president of Koch Equity Development. We look forward to continuing to support the business in its next phase of growth and would like to thank the exceptional team at Siris as we enter our successful partnership. Matt Hewitt, Director, Koch Equity Development, added, “As all of the global markets continue to move towards a more interoperable and connected future, the innovative work TNS is doing to serve clients around the world is of great interest to us. This is an exemplary team that provides solutions that really stand out in the market. ”

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“This transaction is a mark of recognition of the efforts and success of the TNS team in advancing a strategic vision aimed at generating profitable growth,” said Robert Aquilina, President of TNS and Managing Partner of Siris. “Together with my colleagues at Siris, we are proud to have been part of this adventure, and we are convinced that the company is ready for long-term growth within Koch. ”

Terms of the transaction were not disclosed. Closing is expected in the second quarter of 2021. Rothschild & Co and Credit Suisse acted as financial advisers to Koch, and Jones Day acted as legal advisers to Koch. Evercore and Macquarie Capital acted as financial advisers to TNS, and Sidley Austin LLP acted as legal advisors to TNS.

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