Home / M&A Activity / IT Firm Unicom To Buy GTSI For $76M

IT Firm Unicom To Buy GTSI For $76M

Global information technology firm Unicom Systems Inc. will acquire GTSI Corp. (NASDAQ: GTSI) for approximately $76.67 million cash, or $7.75 per share.

GTSI announced the per share value of the offer represents a 47.9 percent premium over GTSI’s Friday closing stock price of $5.24 and a 65.6 percent premium over its one-year average closing stock price.

The tender offer is expected to close in either the second or the early part of the third quarter of GTSI’s 2012 fiscal year, according to that company.

A GTSI committee, comprised of the full board of directors and independent directors, unanimously approved the transaction.

GTSI is allowed to seek other acquisition offers from third parties through June 6 and the company said in its announcement that it intends to consider such proposals.

Unicom Systems provides software to enterprise computing users and is one of 20 entities within the Unicom group of companies.

In late April, Six3 Systems announced that it acquired an Austin, Texas-based geolocation firm to complement Six3′s offerings in signals intelligence and cyber markets.

Ticom Geomatics Inc. provides systems and services for geolocation and missions for intelligence, surveillance and reconnaissance.

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