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Tag Archives: nasdaq: gtec

GTEC Changes Name to Sotera Defense Solutions

GTEC has announced a branding change that will see the firm become known as Sotera Defense Solutions. Originating in Greek mythology, the word “Sotera” is derived from Soter the spirit of safety, preservation and deliverance from harm. “We are very proud to unveil our new name and brand, Sotera, and …

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GTEC Completes Tender Offer

GTEC (Nasdaq: GTEC) issued a statement reporting the completion of the tender offer for its common stock by Ares Management LLC for $24.25 per share. According to the firm, “on March 3, 2011, GTEC announced that it had entered into a definitive merger agreement with Sentinel Acquisition Corporation, an affiliate …

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GLOBAL Founder Damian Perl Comments on GTEC Sale

GLOBAL, the former owner of and largest shareholder in GTEC (NASDAQ: GTEC), indicated it would use the proceeds from the planned sale of GTEC to pursue other opportunities in the market. Ares and GTEC have a deal in place that would see the investment group acquire the firm for an …

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GTEC Reaches Sale Agreement with Ares Management Affiliate for $315 Million; CEO John Hillen Comments

GTEC (NASDAQ: GTEC) reached an agreement to be acquired via cash tender offer by an affiliate of Ares Management, in a deal totaling approximately $315 million. “We are extremely excited about what this new relationship will bring to our customers and employees, and the return this represents for our shareholders, …

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GTEC’s John Hillen, Joe Cormier to Present at Cowen Aerospace & Defense Conference

GTEC (Nasdaq: GTEC) is set to take part in the 32nd Annual Aerospace/Defense Conference on Feb. 9, 2011, at the Intercontinental Hotel in New York. The firm released the following in a statement: “John Hillen, president & CEO and Joe Cormier, CFO, will review the company’s financial performance and growth …

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GTEC Cooks Up Field Kitchens Deal with Marine Corps; John Hillen Comments

GTEC (Nasdaq: GTEC) claimed a $48 million contract to provide Expeditionary Field Kitchens to the United States Marine Corps. The contract contains a five-year period of performance. According to the firm, the kitchens are “designed to provide deployed warfighters with the advantage of daily, fresh meals, the EFK is a …

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GTEC Locks Up Nine-Figure Revolving Credit Facility

GTEC (NASDAQ: GTEC) has released the following financial announcement: “[The firm has] entered into a $100 million revolving credit facility on Dec. 10, 2010 with a syndicate of banks led by SunTrust Bank and Wells Fargo. The facility matures on Dec. 10, 2013 and provides GTEC with the flexibility to …

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GTEC’s John Hillen Signs Off on Signature Government Solutions Acquisition

Global Defense Technology & Systems, Inc. (NASDAQ: GTEC) has agreed to acquire  Signature Government Solutions, LLC (SGS) at a cost of $52.5 million. SGS delivers sophisticated information technology, cybersecurity and intelligence analysis services to the Intelligence Community.   The Herndon, Va.-based firm generated $37 million last year and  boasts a 100-percent …

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Done Deal: Zytel Becomes GTEC Cyber Solutions; John Hillen Comments

Global Defense Technology & Systems, Inc. (NASDAQ: GTEC) has completed the acquisition of Zytel Corporation (Zytel) for $26.8 million. Zytel will be rebranded GTEC Cyber Solutions and will focus on cybersecurity and mission systems in support of intelligence, counterterrorism, and cyber-warfare missions. “This business combination fulfills a key element of …

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