Situation
Transaction Network Services (TNS) is one of the world's leading providers of fast, reliable data communications services for transaction-oriented applications.
TNS (UK) Limited is a wholly-owned subsidiary of Transaction Network Services Inc, and has operated in the UK since 1996. Its head quarters are based in Sheffield with additional offices in the city of London and in Welwyn Garden City.
In the UK, TNS counts amongst its customers all the leading merchant acquirers and processors, and an increasing number of large retail organisations
Approach
In early 2003 ARC Associates were retained as exclusive investment banking adviser to TNS in the UK for the purposes of acquisitions.
Following a detailed discussion of strategic objectives, ARC and TNS identified transaction polling as an attractive area for expansion. Among the acquisition targets identified by ARC was Transpoll OffLine which was owned by Cap Gemini Ernst & Young (CGE&Y).
ARC approached CGE&Y and established that Transpoll OffLine was available for sale. ARC then managed the process of initial discussions, information gathering and submission of an indicative offer for the business.
ARC was then responsible for leading the price and transaction structure negotiations on behalf of TNS and for bringing the process to closing
The Transaction
TNS acquired Transpoll OffLine from CGE&Y on 14 November 2003.