ACQUISITIONS
Untitled Page
Aliso Viejo's Networks In Motion gets bought out
Maryland-based TeleCommunication Systems plans to purchase the firm for $170 million.
By Kristen SchottPublished: December 02, 2009 12:57 PM
Aliso Viejo-based Networks In Motion is set to be acquired by TeleCommunication Systems for $170 million in cash, common stock and debt.
Networks In Motion, which provides wireless navigation solutions for GPS-enabled mobile phones, offers value to TCS, a Maryland-based wireless communications company, because of the firm's experience in location-based data services. Networks In Motion's software uses a device's location to deliver directories, maps and driving directions.
"Location-based services are experiencing substantial growth, and we believe that this is the right time to invest to strengthen our participation in this space," says TCS CEO Maurice B. Tose. "We believe the combination of Networks In Motion applications with our current offerings of carrier infrastructure and applications for location-based services will enhance our value proposition for this exciting market."
NEXT PAGE >>
Related headlines
Irvine's HireRight acquires National Diagnostics
Irvine's Quantum fuels JFK Airport
O.C. automakers report jump in November sales
|
||||
|
Networks In Motion, which provides wireless navigation solutions for GPS-enabled mobile phones, offers value to TCS, a Maryland-based wireless communications company, because of the firm's experience in location-based data services. Networks In Motion's software uses a device's location to deliver directories, maps and driving directions. "Location-based services are experiencing substantial growth, and we believe that this is the right time to invest to strengthen our participation in this space," says TCS CEO Maurice B. Tose. "We believe the combination of Networks In Motion applications with our current offerings of carrier infrastructure and applications for location-based services will enhance our value proposition for this exciting market." NEXT PAGE >> Related headlines Irvine's HireRight acquires National Diagnostics Irvine's Quantum fuels JFK Airport O.C. automakers report jump in November sales |
||||
