Global Strategies Group North America has announced that its Public Sector Defense business will conduct an Initial Public Offering. GLOBAL Defense Technology & Systems, Inc. will be led by CEO John Hillen (one of ExecutiveBiz’s top 20 People to Watch in ’09). The firm has filed an S-1, the necessary registration statement, with the SEC. The statement outlines plans for an IPO of its common stock, although details such as price and number of shares are yet to be specified. GLOBAL Defense Technology & Systems has selected GTEC as their Nasdaq Global Market symbol. Cowen and Company has been named as the only book-running manager for the planned IPO.
The Defense Logistics Agency has awarded UTS Systems a potential four-year, $200M contract to supply commercial shelters to four U.S. military branches. The indefinite-delivery/indefinite-quantity contract has a one-year base period that runs through Nov. 7, 2020, followed by three option years.