TMCnet News
GTEC to Acquire Zytel(Benzinga Via Acquire Media NewsEdge) Global Defense Technology & Systems, Inc. (Nasdaq: GTEC) today announced that it had entered into a definitive agreement to acquire Zytel Corporation for $26.8 million in cash. Zytel delivers Cyber Security & mission systems in support of the critical intelligence, counterterrorism, and cyber warfare missions of its national security clients. The company is an industry leader in the design, development and deployment of next generation, net-centric mission solutions that collect and protect vital information, leveraging its core competencies in systems engineering and architecture, software development and intelligence analysis. The deal is expected to be immediately accretive to GTEC's diluted earnings per share and close in the fourth quarter of 2010. |