By The Canadian Press

CALGARY - Guest-tek Interactive Entertainment Ltd. (TSX:GTK), a provider of broadband technology for hotels, has signed a deal that will see the president of the company take the firm private.

The offer of 50 cents per share by Arnon Levy, president and majority shareholder of Guest-tek, values the company at about $7.9 million.

Guest-tek shares last traded for 25 cents on the Toronto Stock Exchange.

The company said a special committee received a formal valuation that said the company's shares were worth 49 cents to 52 cents.

A shareholder meeting is scheduled for Nov. 26 to vote on the deal.