Cequint provides carrier-grade caller ID products and services to mobile phone companies. It’s expected to add $2 million in revenue to TNS earnings through the end of 2010.
The purchase was $50 million — $46.7 million in cash plus about $3.3 million in TNS stock for Cequint executives. Another $62.5 million in cash will be paid if performance targets are met, for a potential total of $112.5 million.
A spokesman said all of Cequint’s nearly 70 employees will keep their jobs and the company will remain based in Seattle, operating as a TNS subsidiary.
More than 30 million phones have been distributed with Cequint’s first product, City ID, which displays the city and state of incoming numbers. The release said the company’s moving to a new version that also delivers the caller’s name and other features.