Deltek Sold to Investment Firm for $1.1 billion

US-based government intelligence specialist Deltek has been acquired by private equity investment firm Thoma Bravo, in an all-cash transaction valued at approximately $1.1 billion.

Herndon, VA-based Deltek provides intelligence on contract opportunities, customer relationship management, business development and financial issues, HR and project management. Last year, the company bought government market analysis company Washington Management Group, and the previous year it acquired public sector intelligence firm INPUT.

Founded in 1983, Deltek had annual revenue of $341m last year, and employs more than 1,600 people. 100% of Deltek's Class A stock and 59.5% of its common stock were previously held by New Mountain Capital, and as part of the deal Deltek's stockholders will receive $13 in cash for each share held. The company was put up for sale in an auction in July.

After the transaction closes, Deltek will become a privately held company with its stock no longer traded on the NASDAQ. It will continue to be led by its existing senior management team.

President and CEO Kevin Parker (pictured) comments: 'Over the past seven years, we have successfully executed our long term plans for Deltek to enter new markets, grow internationally, and expand our industry-leading solutions for project-based companies. We're extremely proud of this transaction and what it says about the strength of Deltek and the tremendous accomplishments of our people.'

Web site: www.deltek.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.