Tuesday, May 19, 2009

LocationLogic Sold to Maryland Firm for $25M

LocationLogic, a privately held, San Francisco-based provider of location-based services, has been acquired by TeleCommunication Systems Inc., TCS announced Tuesday. According to Annapolis, Md.-based TCS, it paid $15 million in cash and $10 million in its Class A common stock for LocationLogic's assets. The transaction marks the second time this year that LocationLogic has switched owners. Originally a unit of Autodesk, LocationLogic was sold to private equity investors Hale Capital Partners and Hale Global just months ago. LocationLogic supplies infrastructure, applications, content provisioning and integration services for the deployment and maintenance of location-based services. In addition to its Bay Area headquarters, the company maintains facilities in Overland Park, Kan., and Canada.