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TNS to Buy InfiniRoute, Faces Executive Buyout

Channel Partners

March 16, 2006

1 Min Read
TNS to Buy InfiniRoute, Faces Executive Buyout

Transaction Network Services Inc. (TNS), which processes debit and credit card transactions for carriers and other companies, said this week it will buy nearly all of InfiniRoute Networks Inc.s assets.

Terms of the deal were not disclosed.

InfiniRoute provides managed VoIP peering services for carriers. TNS said the acquisition includes InfiniRoute’s flagship product, VoIP Direct. Buying InfiniRoute helps TNS offer VoIP peering services to customers and positions it to pursue VoIP peering business opportunities, the company said.

TNS will continue providing VoIP Direct, and also will offer billing, clearing and settlement services for it.

The InfiniRoute announcement came as media reports said TNS faces a potential buyout by senior executives, who own more than 5 percent of the company’s outstanding shares, according to the Associated Press. The AP said TNS has about 24 million shares outstanding. The proposed buyout, led by company founder, chairman and CEO John McDonnell Jr., would let the executives purchase all outstanding shares for $22 apiece, the AP said.

InfiniRoute Networks Inc. www.infiniroute.com
Transaction Network Services Inc. www.tnsi.com

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