Mergers and Acquistions News
Categories: IT Services & Consulting
June 16th 2009, 14:26PM
A $230 million (£140 million) cash flow term loan has been agreed from GE Capital for Transaction Network Services (TNS).
The money increases the company's credit facility to $423.5 million to support the acquisition of the Communication Services Group (CSG) from VeriSign.
Founded in 1990, TNS provides networking, data and telecommunications and financial transaction services to retailers, banks and payment processing organisations.
The loan will allow the firm to take advantage of the "unique and highly strategic" opportunity in the CSG acquisition, explains executive vice-president and chief technical officer at TNS Dennis L Randolph.
"This incremental capital has helped catapult our global competitive services offering to the next level," he added.
GE Capital offers financial solutions to help businesses across a range of industries and locations, including leases, asset management and inventory finance.
It operates offices in more than a dozen European countries with experts in sectors ranging from caravans to aircraft.
Related News
Categories
- BPO (32)
- Hardware (118)
- IT Services & Consulting (227)
- Media & Information Services (167)
- Semi-Conductors (77)
- Software (230)
- Telecoms (331)
Archive
- February 2012 (0)
- January 2012 (1)
- December 2011 (20)
- November 2011 (20)
- October 2011 (20)
- September 2011 (20)
- August 2011 (20)
- July 2011 (20)
- June 2011 (21)
- May 2011 (20)
- April 2011 (18)
- March 2011 (21)