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Northern Virginia Technology Council | Press Room | Congratulations to NVTC Board Member Sterling Phillips on Definitive Merger Agreement to Sell GTSI Corp

Congratulations to NVTC Board Member Sterling Phillips on Definitive Merger Agreement to Sell GTSI Corp

In a deal announced on Monday, May 7, NVTC Board member company GTSI Corp. has entered into a definitive agreement to be acquired by an affiliate of UNICOM Systems Inc. through a cash tender offer valued at approximately $76.67 million. The closing of the tender offer is expected to occur in the second or early third quarter of 2012.

“The announcement of this offer represents an attractive opportunity to deliver premium value and liquidity to GTSI’s shareholders. I am excited about the potential for future growth with a strategic partner of UNICOM’s stature and global reach,” said NVTC Board member Sterling Phillips, president and chief executive officer of GTSI. “There is an excellent opportunity to realize short- and long-term benefits for our customers, employees and OEM partners.”

Congratulations to Phillips and GTSI.