Wednesday, September 8, 2010

Cequint Acquired For $112.5M

Seattle-based Cequint, a provider of caller ID and other products for mobile phone operators, has been acquired. According to Virginia-based TNS, it has entered into a definitive agreement to acquire Cequint for $50M in an initial payment, consisting of $46.7M in cash and approximately $3.3M in stock, plus up to $62.5M in cash for future, performance based targets. Cequint's products are used to provide enhanced, caller ID services to mo bhile subscribers, including providing such information as city and state of callers, names, and other information. Cequint was founded in 2004, and was venture backed by such companies as AdmitOne Security, Alco Investment Co., Benaroya Company, and iSherpa Capital.