(RTTNews) - TeleCommunication Systems Inc. (TSYS: News ) announced the acquisition of substantially all of the assets of privately-held Sidereal Solutions Inc., a satellite communications technology engineering, operations and maintenance support services company. Sidereal has been a business partner of TeleCommunication Systems' government solutions group since 2007.

The company said the consideration for the purchase was cash, approximately 244 thousand shares of its Class A common stock, and contingent consideration based on the business' gross profit in 2010 and 2011.
The company also noted that the post-acquisition operations will be reported as part of the TeleCommunication Systems government segment's services category.

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by RTT Staff Writer

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