Cequint Acquired For Up to $112.5M

Thea Chard9/8/10

Seattle-based startup Cequint, a developer of Caller ID technology for mobile phones, has agreed to be acquired by Virginia-based Transaction Network Services (TNS) for up to $112.5 million. The terms of the deal, which is expected to close early in the fourth quarter of 2010, dictate that TNS will purchase Cequint for an initial $46.7 million cash payment, and approximately $3.3 million in stock issued to its executives, with the potential for an additional $62.5 million in cash contingent upon the “achievement of future performance-based targets,” according to a company statement. Cequint raised $7.1 million in Series B financing led by ISherpa Capital in July 2008.

Thea Chard is a correspondent for Xconomy Seattle. You can e-mail her at theachard@gmail.com or follow her on Twitter at http://twitter.com/theachard.