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TCS pays $25 million for location-based service provider

Published Thursday, May 21, 2009

TeleCommunications Systems (TCS) this week announced the acquisition of LocationLogic, a recent spinoff of Autodesk that is a privately held provider of location-based services, for $15 million in cash and $10 million in TCS stock. According to a January 2009 Frost & Sullivan report, TCS was shown to have the most complete location-based-services (LBS) solution, with LocationLogic behind it. Tim Lorello, senior vice president and chief marketing officer for TCS, said the acquisition is very complementary, citing LocationLogic's chaperone, fleet-management and device-location services offered by carriers such as Verizon Wireless and Sprint. ...

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