HERNDON, Va. - Transaction Network Services Inc. bought from Intellicall Inc. validation and fraud control service assets and an exclusive U.S. license to the VICS software for $3 million in cash.
In addition, TNS entered into a long-term billing services agreement with Intellicall under which TNS prepaid $1.5 million for future billing services. It also made a software development pact for $450,000, payable in the third quarter of 1995.
TNS president and chief executive officer John J. McDonnell Jr. said the company is moving to solidify its leading position in U.S. calling card validation and fraud control services.
The company sells telecommunications services for transaction-oriented applications.