United States: TeleCommunication Systems Acquires Solvern Innovations, Inc.Byline: kusumv03 TeleCommunication Systems, Inc. (TCS (Transportation Control System) A widely used integrated information system for railroad transportation developed by the Missouri Pacific Railroad Company in the late 1960s and early 1970s. It was later implemented by Union Pacific when the companies merged. ) , a leading provider of mission-critical wireless communications, today announced the acquisition of privately-held Solvern Innovations, Inc., a communications technology solutions company that specializes in cyber security. Consideration for the purchase included cash, approximately one million shares of TCS Class A common stock, and contingent consideration based on the business's gross profit in 2010 and 2011. Based in Baltimore County, Maryland Coordinates: For other uses of "Baltimore", see Baltimore (disambiguation). Baltimore County is a county located in the northern part of the U.S. state of Maryland. In 2004, its population was estimated to be 763,181.[1]. , Solvern is a provider of comprehensive communications products and solutions, training, and technology services for the Department of Defense and the intelligence community. With more than 100 employees, Solvern provides support and training for multiple security-based platforms. The acquisition of Solvern extends TCS' core competency in secure network communications and encryption, which are integral to TCS' secure satcom and wireless carrier businesses. Post-acquisition operations will be reported as part of the TCS government segment's services category. Solvern's full year 2009 revenue, including the pre-acquisition part of the year, is expected to be about $18 million, with an expected fourth quarter revenue run rate of about $7 million and expected EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become (Earnings Before Interest, Taxes, Depreciation and Amortization Earnings before interest, taxes, depreciation and amortization (EBITDA) is a non-GAAP metric that can be used to evaluate a company's profitability.
The increased threats of web-based attacks, coupled with the US government's renewed focus on protecting online assets, indicate that cyber security will be a high growth communications technology area for the foreseeable future. According to the Office of Management and Budget The Office of Management and Budget (OMB), formerly the Bureau of the Budget, is an agency of the federal government that evaluates, formulates, and coordinates management procedures and program objectives within and among departments and agencies of the Executive Branch. , the Department of Homeland Security Noun 1. Department of Homeland Security - the federal department that administers all matters relating to homeland security Homeland Security executive department - a federal department in the executive branch of the government of the United States plans to increase the number of personnel dedicated to civilian cyber security by approximately 160% next year. Federal spending on cyber security for protection of both government and civilian communications is expected to grow from $9.2 billion in 2010 to $12.7 billion in 2014, and total $54 billion over the next 5 years. Copyright : Euclid Infotech Pvt. Ltd. Provided by Syndigate.info an Albawaba.com company |
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