UNICOM to buy GTSI in $76M cash deal

UNICOM Systems will acquire government IT contractor GTSI in a cash deal worth $76.67 million.

The offer will be $7.75 per share, a premium of 48 percent over GTSI’s closing stock price Friday, according to a GTSI release.

“I am excited about the potential for future growth with a strategic partner of UNICOM’s stature and global reach,” said Sterling Phillips, GTSI’s president and chief executive officer, in the release.

What impact will the Trump administration have on feds? Read the latest in our First 100 Days section.

A special committee of GTSI directors and the full board of directors unanimously approved the deal, according to the release.

Advertisement