Koch Equity Development Completes Acquisition of Transaction Network Services
WICHITA, Kan., June 1, 2021 — An affiliate of Koch Equity Development LLC, an investment and acquisition subsidiary of Koch Industries, Inc. (collectively, “Koch”), announced that it has completed its previously announced acquisition of Transaction Network Services, Inc. (“TNS”) from affiliates of Siris Capital Group, LLC and TNS’ other minority equity holders.
In connection with the closing of the transaction, TNS, a global infrastructure-as-a-service leader, has become a wholly owned subsidiary of Koch, and will continue to operate under the company’s current management team from its headquarters in Reston, VA.
“TNS appreciates the invaluable support the Siris team provided over the course of 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 served as financial advisors to Koch, and Jones Day served as legal advisor to Koch. Evercore, Macquarie Capital and Barclays served as financial advisors to TNS, and Sidley Austin LLP served as legal advisor to TNS.
More information on Koch Equity Development’s acquisition of Transaction Network Services can be found here.
About TNS
TNS is one of the leading global providers of infrastructure-as-a-service solutions for mission-critical applications and a trusted partner to thousands of financial institutions, telecommunications providers and retailers around the world. Doing business since 1990, TNS provides services to customers in over 60 countries across the Americas, Europe and the Asia Pacific region. Across its global managed platform, TNS securely enables billions of daily telephone calls and electronic securities trade as well as over 34 billion annual payment transactions. TNS is also a leading provider of enhanced mobile caller ID and spam/robocall protection services through its subsidiary, Cequint (https://www.cequint.com/). To learn more, please visit www.tnsi.com.
About Koch Equity Development LLC (KED)
With offices in Wichita and London, KED is responsible for M&A activity across Koch Industries, Inc. and the management of a broad principal investment portfolio. Significant principal investments completed 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 of equity in principal investments and acquisitions.
About Koch Industries, Inc.
Based in Wichita, Kansas, Koch Industries, Inc. is one of the largest private companies in America, with estimated annual revenues as high as $115 billion, according to Forbes. It owns 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 analytics; minerals; glass; automotive components; ranching; commodity trading; and investments. Since 2003, Koch companies have invested nearly $133 billion in growth and improvements. For more news and information, visit www.KOCHind.com.
About Siris
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 operating executives that actively participate in key aspects of the transaction lifecycle to help identify opportunities and drive strategic and operational value. Siris is based in New York and Silicon Valley and has raised nearly $6 billion in cumulative capital commitments. www.siris.com.
SOURCE Koch Equity Development