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[QUOTE]Originally posted by BENJAMINS: [QB] JUST SOME NEWS UPDATE FOR YOU GUYS,.... DynTek Acquires TekConnect Corporation Monday October 16, 3:55 pm ET Expands Operations in New York, New Jersey, and Michigan Education Sector IRVINE, Calif., Oct. 16 /PRNewswire-FirstCall/ -- DynTek, Inc. (OTC Bulletin Board: DYNK - News), a leading provider of professional technology services, today announced it has completed the acquisition of the operating assets of TekConnect Corporation based in Cherry Hill, New Jersey. ADVERTISEMENT TekConnect Corporation is a leading technology integration and consulting firm with a focus on the K-12 education market. Founded in 1975, the company has sales and service locations in Troy, Michigan and Cherry Hill, New Jersey. TekConnect offers an extensive range of services, including technology consulting, systems integration, staff development, and staff augmentation. On a trailing twelve month basis the firm had approximately $7.1 million in revenue. This transaction completes DynTek's acquisition of TekConnect's operating assets. On June 19, 2006, DynTek announced the acquisition of the assets of TekConnect's Long Island Division, based in Islip, New York. In addition, Steve Struthers, TekConnect's founder and president, will join DynTek as chief technology officer, to focus on the development of vertical market-oriented professional technology solutions. "We are very excited about this opportunity to expand our specialized education technology solutions throughout the United States and Canada," said Struthers. "We have parallel strategic partnerships and solution sets, which position the two organizations to benefit from one another." "The completion of this acquisition will increase our sales and service density in the Northeast and Midwest regions, and further, allow DynTek to offer focused service offerings to our growing customer base," said Casper Zublin Jr., DynTek's chief executive officer. About DynTek DynTek is a leading provider of professional technology services to mid-market companies, such as state and local governments, educational institutions and commercial entities in the largest IT markets nationwide. The company offers technology practices in IT security, advanced network infrastructure, voice over internet protocol ("VOIP"), and access infrastructure. DynTek's multidisciplinary approach allows our clients to turn to a single source for their most critical technology requirements. For more information, visit [URL=http://www.dyntek.com.]www.dyntek.com.[/URL] This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that certain statements in this release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and involve known and unknown risks, uncertainties and other factors. Such uncertainties and risks include, among others, our ability to renew contracts with customers of TekConnect Corporation; success in reaching target markets for services and products in a highly competitive market and the ability to maintain existing and attract future customers; the ability to finance and sustain operations, including the ability to comply with the terms of working capital facilities and/or other term indebtedness of the Company, and to extend such obligations when they become due, or to replace them with alternative financing; the ability to raise equity capital in the future; the ability to achieve profitability despite historical losses from operations; the ability to maintain business relationships with IT product vendors and the ability to procure products as necessary; the size and timing of additional significant orders and their fulfillment; the continuing desire of and available budgets for state and local governments to outsource to private contractors; the ability to successfully identify and integrate acquisitions; the retention of skilled professional staff and certain key executives; the performance of the Company's government and commercial technology services; the continuation of general economic and business conditions that are conducive to outsourcing of IT services; the ability to maintain trading on the NASD OTC Bulletin Board or other markets in the future; and such other risks and uncertainties included in our Annual Report on Form 10-K filed on October 13, 2006, and other SEC filings. The Company has no obligation to publicly release the results of any revisions, which may be made to any forward-looking statements to reflect anticipated or unanticipated events or circumstances occurring after the date of such statements. -------------------------------------------------------------------------------- Source: DynTek, Inc. [/QB][/QUOTE]
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