EyakTek Completes Redemption of Minority Ownership Interest

DULLES, Va., Aug. 19, 2011 /PRNewswire/ -- Eyak Technology, LLC (EyakTek) today announced that it has completed the redemption of the 37% minority ownership share in EyakTek from GTSI Corp. (GTSI), which represents all of GTSI's interest in EyakTek. The parties have also settled the pending arbitration proceedings and all other disputes between GTSI and EyakTek and its officers and other members, as well as other related disputes between GTSI and EyakTek and the other members of EyakTek.

"This settlement will allow EyakTek to focus exclusively on serving its Native Alaskan community without the distraction and costs of the ongoing legal dispute with GTSI. We believe that this redemption is in the best interest of EyakTek and will provide meaningful benefits for many future generations of Eyak descendants," said Rod Worl, Chief Executive Officer of The Eyak Corporation, parent company of EyakTek.

About Eyak Technology, LLC
Eyak Technology, LLC ("EyakTek") provides award-winning solutions in communications, information technology, healthcare, and critical infrastructure services. As a recognized leader in the industry, EyakTek has consistently been ranked as one of the top 100 federal contractors. An Alaska-native owned small business, EyakTek also provides socio-economic benefits for its community of native shareholders.

Contact:
Melissa Zelinger
703-481-0050
or [email protected]

SOURCE Eyak Technology, LLC