Transaction Network Services (TNS), a leading provider of data communication services for transaction-orientated applications, acquired the Transpoll Offline service from Cap Gemini Ernst & Young in late 2003. ARC Associates was retained by TNS as financial advisor for the acquisition.
TNS provides transaction transport solutions to the UK's banks and card processors. The purchase of Transpoll Offline enables TNS to be responsible for overnight polling of point-of-sale terminals to enable the collection, processing and delivery of offline transactions to UK acquirers for settlement. This acquisition forms part of the ongoing development of TNS' product portfolio in the UK and European marketplaces to meet its customer's needs.
ARC Associates, a specialist investment banking and advisory firm to the TMT, financial services and property sectors advised TNS in this transaction. Commenting, Ray Low, Managing Director at TNS said, "ARC's understanding of the intricacies of the IT services and communication issues in this transaction gave TNS considerable assistance in completing this acquisition smoothly within a tight timetable."
ARC Associates is a specialist investment banking and advisory firm to the telecommunications, media, technology, financial services and property sectors.
Contact:
John Allen, Chairman
ARC Associates
+ 44 (0) 20 7614 4000