TeleCommunication Systems buys LocationLogic for $25M

Wireless technology solutions provider TeleCommunication Systems announced it has acquired the assets of privately-held location-based services firm LocationLogic for $25 million. The transaction--comprised of $15 million paid in cash and $10 million (approximately 1.4 million shares) in common stock--follows a few months after private equity investors Hale Capital Partners and Hale Global acquired LocationLogic's assets from Autodesk. According to TCS, LocationLogic's revenue stream derives via recurring service revenue from hosted infrastructure software and location-based applications--the firm's partners include two of the largest North American mobile operators.

TCS notes the acquisition expands its LBS application portfolio beyond navigation, traffic and points of interest by adding family locator, mobile resource management and phone recovery and security applications, as well as adding about 10 patents and 12 patent applications complementary to its existing patent portfolio.

For more on the TCS/LocationLogic deal:
- read this release