TeleCommunication gets $5 million infusion

Maryland Watch

September 22, 1998

Annapolis-based TeleCommunication Systems Inc. said yesterday that the company has received $5 million in long-term financing from Tatonka Capital Corp., a private Denver investment company that focuses on start-ups with significant federal contracts.

TCS, which is developing wireless and Internet communications products primarily for state and federal government agencies, said the capital would be used to further growth in the company's network and information technology businesses.

Carol S. Hansen, president of Tatonka Capital, said TCS was an attractive investment opportunity because of its focus on developing wireless and Internet-based communications systems for the government contracting market, and its systems integration expertise.

Thomas M. Brandt, chief financial officer for TCS, said, "This investment is a tremendous vote of confidence in TCS and our early recognition of the market opportunities emerging from the convergence of digital data and telecommunications technologies."

Privately held TCS said it expects to go public in the near future.

Pub Date: 9/22/98

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