Seyfarth Shaw Real Estate partner Robert Bodansky is quoted in the May 11 edition of the Washington Business Journal regarding the GTSI $76M merger.
The GTSI is federal contracting mainstay, with a nearly 30-year history which made its mark by selling hardware and software to agencies on behalf of technology manufacturers. The article further explains that the merger is taking place due to the doubt that it will survive as a stand-alone entity after the $76.67 million deal with Mission Hills, Calif.-based Unicom Systems Inc.
The article further explains that industry observers say this merger will leave executives on the chopping block and provide competitors with an opportunity to poach partners.“I would think [the top executives] are all gone,” Bob said. “They did the job of turning around the company to get it ready for sale, and now they may get a nice bonus out of it. If you come onboard at a company under a cloud, and a year later get 48 percent premium on value, you’ve probably earned that bonus.”