ANNAPOLIS, Md., July 6, 2012 /PRNewswire/ -- TeleCommunication Systems, Inc. (TSYS) (TCS) (NASDAQ:TSYS), a world leader in highly reliable and secure mobile communication technology, today announced it has acquired privately-held microDATA GIS, Inc., a leading provider of Next Generation 9-1-1 (NG9-1-1) software and solutions.
The aggregate acquisition consideration is approximately $37 million, comprised of $20 million in cash at closing, plus $14 million in promissory notes and performance-based earn-out opportunities. TCS is financing the cash portion with an updated bank term loan arrangement (see "About the New Senior Credit Facility" below).
microDATA's technology and expertise expands TCS' end-to-end public safety communication solutions in several ways. As a pioneer in Geographical Information Systems (GIS), microDATA has a mature GIS product and tools suite, comprehensive training programs and large, highly scalable GIS data gathering and consolidation capabilities.
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