TeleCommunication Systems Acquires Sidereal Solutions
November 18, 2009
TeleCommunication Systems (TCS) has acquired Sidereal Solutions, a privately held satellite communications technology engineering, operations and maintenance support services company and a business partner of TCS' government solutions group since 2007, TCS announced Nov. 16.
TCS purchased Sidereal with cash, approximately 244,000 shares of TCS stock, and contingent consideration based on the business' gross profit in 2010 and 2011. Post-acquisition, Sidereal’s operations will be reported as part of the TCS government segment's services category.
Sidereal, based in Atlanta, provides field service support for satellite communications and network engineering, technical writing and training, and other information technology services in support of TCS' Swiftlink line of deployable systems.
The acquisition is expected to be immediately accretive to TSYS earnings per share.