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TeleCommunication Systems acquires Sidereal SolutionsNovember 16, 2009 5:18 PM ETScott Dance TeleCommunication Systems is buying Sidereal Solutions Inc., its second acquisition in as many weeks. TCS (NASDAQ: TSYS) did not immediately disclose a purchase price but said the deal includes cash and 244,000 shares of TCS stock, worth $1.9 million based on Monday’s closing price of $8.05 per share. The company has been working with Atlanta-based Sidereal since 2007 on government contracts. The company has a 17 percent profit margin on revenue that has grown to a rate of $24 million per year. Sidereal employs 40 people and works with TCS on satellite communications and engineering technology. Annapolis-based TCS specializes in satellite communication as well as other wireless technology, including text messaging. TCS saidNov. 3 it is buying Baltimore County technology firmSolvern Innovations Inc. The company has seen booming profit this year. Itgrew 96 percent in the most recent quarterended Sept. 30. Copyright 2009 bizjournals.com
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