Dec 11 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
Greenhill & Co LLC advised TNS on the deal, which is
expected to close in the first quarter of 2013. UBS Securities
LLC and Macquarie Capital were the financial advisers for Siris.
Shares of TNS, which last month reported third-quarter
revenue of $137.2 million, were up about 45 percent at $21.07 in
premarket trading on Tuesday.