- An April 1 deadline for a consortium of U.S. carriers (known as NAPM) to provide a notice of non-renewal to Neustar (NYSE:NSR) for 7 regional contracts covering local number portability management has come and gone without a notice being given, Neustar has disclosed in an 8-K.
- With no notice given, the contracts are set to extend for a year beyond their current June 30 expiration date, with unchanged deal terms.
- Neustar rallied above $27 following the news. Shares are now up 25% since the company announced a $150M buyback to coincide with the FCC's (expected) decision to begin negotiations with Ericsson/Telcordia to serve as its next local phone number portability administrator (replacing Neustar).