TekInsight, DynCorp Close Merger Deal
- By William Welsh
- Dec 27, 2001
TekInsight.com Inc. and DynCorp have closed the merger of DynCorp Management Resources, the company's state and local unit, with TekInsight, the companies announced Dec. 27.
Following the merger, TekInsight of Irvine, Calif., changed its name to DynTek Inc. The company's new ticker symbols on Nasdaq (DYTK, DYTKP and DYTKW) will be active Dec. 31, they said.
With the close of the merger, DynTek will have about 400 employees and annual revenue of more than $100 million, said Steve Ross, DynTek's chief executive officer. The close of the merger also will give the company clients in 17 states, he said.
As part of the deal announced in April 2001, DynCorp of Reston, Va., will retain a 40 percent interest in the new company.
Dyntek will provide technology and management solutions for the state and local government sector. The company's comprehensive government transformation methodology includes consulting, systems integration, application development, legacy integration and support and management services.
William Welsh is a freelance writer covering IT and defense technology.