PR89002

WICHITA, Kan., April 14, 2021 /PRNewswire=KYODO JBN/ --

An affiliate of Koch Equity Development LLC, the investment and acquisition

subsidiary of Koch Industries, Inc. (collectively, "Koch"), announced that it

has agreed to acquire Transaction Network Services, Inc. ("TNS") from

affiliates of Siris Capital Group, LLC and TNS' other minority equity holders.

TNS provides secure, mission critical connectivity and interoperability

solutions via a global managed network enabling its customers to exchange data

and information and transact worldwide. Koch made its initial investment in TNS

in January 2016 and this multi-step acquisition follows a similar approach to

Koch's acquisition of Infor in 2020 and Guardian Glass in 2016.  

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TNS, a global infrastructure-as-a-service leader, will continue to operate

under the company's current management team from its headquarters in Reston,

VA. TNS is one of the premier managed network connectivity platforms with a

vision to expand its reach to new high growth markets including 5G, ultra-low

latency secure trading, EV charging, smart parking, digital payments and other

IoT verticals, while continuing to innovate alongside customers in core service

offerings supporting payments, financial services and communications. TNS is

also the leading provider of mobile call management solutions through its

Cequint branded offering, which enables telecommunications carriers to protect

consumers with robocall/spam detection, promote reliable personal

communications through enhanced caller identity services, and develop branded

solutions for trusted interactions between enterprises and consumers.

TNS will help augment Koch's continued approach to technological

transformation. Koch companies have made more than $30 billion in

technology-related investments in the past several years, transforming a global

portfolio of businesses spanning multiple industries. The investment

underscores Koch's belief in TNS's commitment to its customers and the

company's network management expertise leveraging TNS' capabilities globally.

Under Koch's ownership, TNS will have a stable ownership base, and deep access

to capital, allowing accelerated focus on both organic and inorganic growth

opportunities.

"Today marks the beginning of an exciting new chapter for TNS, our employees

and our current and future customers. As a result of this acquisition, we will

be able to accelerate our mission of enabling our customers to focus on growing

their businesses without worrying about the ever-increasing complexities

associated with securely transmitting mission-critical, time sensitive

transactional data," said Mike Keegan, CEO of TNS. "We have enjoyed a close

partnership with Koch over the past five years, and this deal is a natural

progression of those years of working together. As part of Koch, we will

deliver more value to our customers faster with increased investment in new

technologies and current and future services which is critical to our long-term

growth strategy."

"Our acquisition of TNS follows over five years of engagement with the company,

not only as an investor, but as a customer as well," said Brett Watson,

President of Koch Equity Development. "We are excited to continue supporting

the company in its next phase of growth and want to thank the outstanding team

at Siris as we conclude our successful partnership." Matt Hewitt, Director at

Koch Equity Development added, "As the world continues to move to a more

interoperable, connected future, we are excited about the innovative work TNS

is doing to serve its customers around the globe. This is an exemplary team

bringing truly differentiated solutions to the marketplace."

"This transaction recognizes the TNS team's effort and success executing

against a strategic vision to generate profitable growth," said Robert

Aquilina, Chairman of TNS and Siris Executive Partner.  "My colleagues at Siris

and I are proud to have been part of the journey, and we are confident the

company is poised for long-term growth as part of Koch."

Terms of the deal were not disclosed. The closing is expected to take place in

the second quarter of 2021. Rothschild & Co and Credit Suisse served as

financial advisors to Koch, and Jones Day served as legal advisor to Koch.

Evercore and Macquarie Capital served as financial advisors to TNS, and Sidley

Austin LLP served as legal advisor to TNS.

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

CONTACT: Dan Knight, Daniel.knight@kochps.com