Tag Archives: GTSI

GTSI, Unicom Merger Go-Shop Period Ends

Unicom Systems Inc.’s acquisition of GTSI Corp. appears set to go forward after the company did not accept any alternative offers over the last month, GTSI announced Monday. The firms agreed to a 30-day go-shop period, allowing GTSI to seek other proposals for 30 calendar days and continue negotiations with …

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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 …

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Navy Awards $500M in Off-The-Shelf ISR Equipment IDIQs

The U.S. Navy awarded contracts potentially worth $500 million Tuesday for equipment used in intelligence, surveillance and reconnaissance applications. The Defense Department said contractors will also provide the commercial off-the-shelf equipment for information operations, information awareness and related incidental support services. Awardees of the indefinite-delivery/indefinite-quantity, firm-fixed-price, multiple award supply contracts …

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GTSI Names Ex-Harris Federal’s Wensinger COO; Sterling Phillips Comments

GTSI Corp. has appointed Jeremy Wensinger as chief operating officer, where he will report directly to CEO Sterling Phillips. Wensinger has more than 20 years of executive experience in the federal technology sector, previously serving as group president of government communication systems for Harris Corp. (NYSE: HRS). In that role, he led …

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GTSI Promotes Jim Sweeney to CTO; Sterling Phillips Comments

GTSI Corp. has named Jim Sweeney as its chief technology officer, where he’ll be the principal technology strategist for the company’s integrated solutions and services offerings. Sweeney has lead GTSI’s virtualization and cloud computing consulting practice for four years and has more than 35 years of experience of developing and integrating enterprise IT applications and technologies. In his new role, …

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GTSI to Repurchase up to $5M of Common Stock to Take Advantage of Strong Cash Position

GTSI‘s board of directors has authorized the company to repurchase up to $5 million in shares of its common stock. The share repurchase program is effective immediately and the timing and amount of shares repurchased will be determined by company management. The company said the move follows several capital allocation strategies it is considering to take advantage of its strong …

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GTSI Sells Interest in Eyak Technologies for $20M to Spend on Growth Areas; Sterling Phillips Comments

  GTSI Corp. (NASDAQ: GTSI) has sold its 37 percent ownership interest in Eyak Technology to that company for $20 million cash. GTSI entered a settlement and redemption agreement on Aug. 19, 2011 to sell its interest in EyakTek and settle pending arbitration proceedings and litigation with the firm. “Our board …

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GTSI Acquires IT Professional Services Firm; Sterling Phillips Comments

  GTSI Corp. (NASDAQ: GTSI) has completed its acquisition of Information Systems Consulting Group,  a privately-held federal IT professional services provider. GTSI said the move would expand its software and database development and maintenance offerings. Fredericksburg, Va.-based InSysCo employs more than 110 workers and was recently awarded a total information processing support …

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GTSI Wins $159M Army Mobile Biometrics Contract; Sterling Phillips Comments

  GTSI Corp. (NASDAQ: GTSI) has won a $159 million U.S. Army contract to provide mobile biometric devices to assist warfighters identify persons in the field in real time The contract covers a 16-month period and was awarded under GTSI’s IT enterprise solutions – 2 hardware contract. The devices will enter a …

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GovCon Vet, New GTSI CEO Sterling Phillips on Leading in Tough Times

New GTSI CEO Sterling Phillips gave an exclusive interview to ExecutiveBiz, discussing his new firm and his approach to leading in difficult times. “In some ways, tough times make it easier to institute change because people are dissatisfied with the status quo and are looking for a new direction.  When …

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