TeleCommunication Systems Buys Networks In Motion for $170M
Today TeleCommunication Systems (TCS) has announced its intent to acquire and merge with Networks In Motion for the price of $170 million. Networks In Motion is a privately held company that provides mapping and GPS information to mobile phones. TCS will pay for the acquisition with cash, stock and promissory notes. Network In Motion's board has approved the acquisition, though its shareholders and regulators have not. TCS believes this acquisition will help it better supply wireless network operators with the information their subscribers need for navigation and mapping services.