TeleCommunication Systems, a publicly held company in Annapolis, which serves mostly the government sector, has agreed to acquire Networks In Motion for $170 million. Network In Motion is a privately held company headquartered in Aliso Viejo, Calif., which provides wireless navigation software for GPS-enabled mobile phones. Networks In Motion powers white-label navigation services, such as Verizon Wireless’s VZ Navigator, which launched in January 2006. Release.
The acquisition follows several big moves in the mobile navigation space, including Google’s free offerings on its Android operating system, and the announcement that TeleNav plans to file for an IPO. Observers expect users to move from using standalone devices from companies, like TomTom and Garmin, to navigation services through their phone. Maurice B. Tose, CEO of TCS, said in a release: “We believe the combination of Networks In Motion applications with our current offerings of carrier infrastructure and applications for location-based services will enhance our value proposition for this exciting market.”
TCS said they will pay for the merger using cash, stock and promissory notes. The merger has been signed off on by Networks In Motion’s Board of Directors, but not the company’s shareholders. The transaction is subject to the terms and conditions of the merger agreement, the approval of Network In Motion’s stockholders, and customary regulatory clearance and other closing conditions. The transaction is expected to close this month.
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