Eyak Technology, LLC Announces Withdrawal of Proposal to Acquire GTSI Corp.

Oct 04, 2010, 07:00 ET from Eyak Technology, LLC

DULLES, Va., Oct. 4 /PRNewswire/ -- Eyak Technology, LLC (EyakTek) today announced that it has withdrawn its $7.50 per share in cash proposal to acquire all of the outstanding capital stock of GTSI Corp. (Nasdaq: GTSI).  On September 30, 2010, GTSI indicated in a letter to EyakTek that GTSI was not interested in pursuing the proposal.

On October 1, 2010, the United States Small Business Administration (SBA) suspended GTSI from receiving any future contract awards from the federal government.  EyakTek said it was withdrawing its proposal to acquire GTSI in order to carefully evaluate the effect of the SBA's action upon GTSI.  

EyakTek is an Alaska Native-owned small business that provides award-winning solutions in infrastructure and security systems, communications, information technology, and healthcare services.  As a recognized leader in the industry, EyakTek has consistently been ranked as one of the Top 100 Federal Contractors.

SOURCE Eyak Technology, LLC