Verizon To Sell TSI Telecommunication For $800MVerizon To Sell TSI Telecommunication For $800M

Verizon Communications Inc. is selling subsidiary TSI Telecommunication Services to Chicago investment firm GTCR Golder Rauner LLC in a deal valued at approximately $800 million.

TSI, based in Tampa, Fla., provides transaction-based wireless call processing services, including roaming subscriber validation, call delivery, and fraud management. The company, which has 800 employees, serves more than 260 telecommunications providers in North America, Latin America, Asia Pacific, and Europe. The deal is expected to close in the first quarter of next year.

In a statement Monday, Verizon said that Edward Evans, Dobson Communications Corp.'s president and chief operating officer, has resigned his post and will become CEO of TSI.