Saturday, May 15, 2021

Koch Equity Development Subsidiary Signs Agreement to Acquire Transaction Network Services and Positions itself for Strategic Growth

An affiliate of Koch Equity Development LLC, the investment and acquisitions subsidiary of Koch Industries, Inc. (collectively, “Koch”), announced that it has agreed to acquire the Transaction Network Services, Inc. (“TNS”) from subsidiaries of Siris Capital Group, LLC and other minority equity holders of TNS. TNS provides mission-critical and secure connectivity and interoperability solutions over a managed global network that enables its customers to exchange data and information and conduct transactions around the world. Koch made its initial investment in TNS in January 2016 and this multi-step acquisition follows a similar approach to Koch’s acquisition of Infor in 2020 and Guardian Glass in 2016

TNS, a global leader in infrastructure as a service, will continue to operate under the company’s current management team from its headquarters in Reston, Virginia. TNS is a leading managed network connectivity platform with a vision to expand its reach into new high-growth markets, including 5G technology, ultra-low latency secure trading, electric vehicle charging, smart parking, digital payments, and other IoT verticals, while continuing to innovate alongside customers in essential service offerings that support payments, financial services, and communications. TNS is also the leading provider of mobile call management solutions through its Cequint brand operations,

TNS will help expand Koch’s ongoing focus on technology transformation. Koch companies have invested more than $ 30 billion in technology in recent years, transforming a global portfolio of companies spanning multiple industries. The investment highlights Koch’s confidence in TNS’s commitment to its customers and in the company’s network management expertise that leverages TNS’s global capabilities. Under Koch’s ownership, TNS will have a stable ownership base and broad access to capital, allowing for a streamlined focus on organic and inorganic growth opportunities.

“Today marks the beginning of an exciting new chapter for TNS, our employees and our current and future customers. As a result of this acquisition, we will be able to accelerate our mission to enable our customers to focus on growing their businesses without worrying about ever-increasing complexities associated with the secure transmission of time-dependent and mission-critical transactional data, “said Mike Keegan, CEO of TNS. “We have enjoyed a close partnership with Koch for the past five years, and this agreement is a natural evolution of those years of working together. As part of Koch, we will deliver more value to our customers faster with increased investment. in new technologies and in current and future services, which is fundamental to our long-term growth strategy. ”

“Our acquisition of TNS comes after more than five years of commitment to the company, not only as an investor, but also as a customer,” said Brett Watson, president of Koch Equity Development. “We are excited to continue supporting the company in its next phase of growth, and we want to thank the outstanding team at Siris as we conclude our successful partnership.” Matt Hewitt , Director of Koch Equity Development, added: “As the world continues to move toward a more interoperable and connected future, we are excited about the innovative work TNS is doing to serve its customers around the world. This is a team exemplary that offers the market truly differentiated solutions “.

Also Read: The proliferation of COVID-19 has reduces the M&A trends

“This transaction recognizes the effort and success of the TNS team in executing a strategic vision to generate profitable growth,” said Robert Aquilina, President of TNS and CEO of Siris. “My colleagues at Siris and I are proud to have been a part of this experience, and we are confident that the company is poised for long-term growth as part of Koch.”

Terms of the deal were not disclosed. The closing is expected to take place in the second quarter of 2021. Rothschild & Co and Credit Suisse served as financial advisers to Koch, and Jones Day served as legal adviser to Koch. Evercore and Macquarie Capital served as financial advisers to TNS, and Sidley Austin LLP as legal adviser to TNS.

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