TeleCommunication Systems buys Sidereal Solutions

AP News
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Posted: Nov 16, 2009 4:01 PM

Wireless communications company TeleCommunication Systems Inc. said Monday it acquired privately held Sidereal Solutions Inc., a satellite communications technology engineering, operations and maintenance support services company.

TeleCommunication Systems said it paid cash, shares and consideration based on the company's gross profit in 2010 and 2011. It did not disclose the total value of the deal and a representative could not immediately be reached for comment Monday.

Sidereal has been a business partner of the company's government solutions group since 2007, TeleCommunication Systems said.

Shares of TeleCommunication Systems rose 8 cents to $8.01 in afternoon trading.