WICHITA, Kan., June 1, 2021 / PRNewswire / – A Subsidiary of Koch Equity Development LLC, an investment and acquisition subsidiary of Koch Industries, Inc. (collectively, “Koch”), has announced that it has completed the previously announced acquisition of Transaction Network Services, Inc. (“TNS”) subsidiaries of Siris Capital Group, LLC and other minority shareholders of TNS.
As part of the closing of the transaction, TNS, a global leader in infrastructure as a service, became a wholly-owned subsidiary of Koch and will continue to operate under the current management of the company from its head office in Reston, Virginia.
“TNS appreciates the invaluable support provided by the Siris team over our eight-year partnership, and we look forward to continuing our close partnership with Koch as we enter our next stage of growth,” said Mike Keegan, CEO of TNS.
Rothschild & Co and Credit Suisse acted as financial advisers to Koch, and Jones Day was legal counsel to Koch. Evercore, Macquarie Capital and Barclays served as financial advisors to TNS and Sidley Austin LLP served as legal advisors to TNS.
For more information on the acquisition of Transaction Network Services by Koch Equity Development, please found here.
TNS is a leading global provider of infrastructure as a service solutions for mission critical applications and a trusted partner for thousands of financial institutions, telecommunications providers and retailers around the world. In business since 1990, TNS provides services to clients in over 60 countries across the Americas, Europe and the Asia Pacific Region. Across its global managed platform, TNS securely enables billions of daily phone calls and electronic securities exchanges, as well as more than 34 billion annual payment transactions. TNS is also a leading provider of enhanced mobile caller ID and spam / auto call protection services through its subsidiary Cequint (https://www.cequint.com/). For more information, please visit www.tnsi.com.
About Koch Equity Development LLC (KED)
With offices in Wichita and London, KED is responsible for M&A activity in Koch Industries, Inc. and for managing a large core investment portfolio. Major investments made include Infor, Getty Images, MI Windows and Doors, Global Medical Response, Meredith / Time Inc., Solera Holdings Inc. and The ADT Corporation. Since 2012, KED has invested more than $ 30 billion equity in major investments and acquisitions.
About Koch Industries, Inc.
Situated at Wichita, Kansas, Koch Industries, Inc. is one of America’s largest privately held companies, with estimated annual revenues of up to $ 115 billion, according to Forbes. It has a diverse group of companies involved in refining, chemicals and biofuels; forest and consumer products; fertilizers; polymers and fibers; process and pollution control systems; electronics, software and data analysis; the minerals; glass; automotive components; ranching; commodity trade; and investments. Since 2003, Koch companies have invested nearly $ 133 billion in growth and improvements. For more news and information, visit www.KOCHind.com.
Siris is a leading private equity firm that invests primarily in mature technology and telecommunications companies with mission-critical products and services, facing industry changes or other significant transitions. Siris’ development of proprietary research to identify opportunities and its extensive collaboration with its executive partners are integral to its approach. Siris Executive Partners are experienced senior executives who actively participate in key aspects of the transaction lifecycle to help identify opportunities and generate strategic and operational value. Siris is based at new York and Silicon Valley and raised nearly $ 6 billion in cumulative capital commitments. www.siris.com.
SOURCE Koch Equity Development