Deltek closes $1.1B sale

Thoma Bravo takes company private

Deltek Inc. and the private equity group, Thoma Bravo, have completed their $1.1 billion deal that takes Deltek out of the public market. Its stock stopped trading at the close of the markets on Tuesday.

The transaction removes New Mountain Capital as a major shareholder of Deltek. New Mountain acquired Deltek seven years ago, and took the company public, but continued to own a significant amount of its shares.

“Deltek has experienced significant growth over the past seven years, and I want to thank our board of directors and New Mountain Capital for their help building Deltek into a global market leader,” said Kevin Parker, Deltek president and CEO.

Parker and the rest of the management will continue in their positions under Thoma Bravo.

“Our customers will continue to receive the same commitment and unmatched solutions they’ve grown accustomed to, and can expect continued enhancements to our suite of products and solutions through strategic and organic growth investments,” Parker said in a statement.

Among the investments that Deltek has made is the acquisition of market research firms, Input and Federal Sources. The company has also pushed further into professional services with the acquisition of Maconomy.

In an earlier interview with Washington Technology, Parker said that being private would allow Deltek to invest more quickly in areas such as new product development and acquisitions, that can add business development software and applications and capture management capabilities.

Other areas of interest going forward include the broader professional services markets in Europe, South America and Asia, Parker said.

 

About the Author

Nick Wakeman is the editor-in-chief of Washington Technology. Follow him on Twitter: @nick_wakeman.

Reader Comments

Please post your comments here. Comments are moderated, so they may not appear immediately after submitting. We will not post comments that we consider abusive or off-topic.

Please type the letters/numbers you see above

What is your e-mail address?

My e-mail address is:

Do you have a password?

Forgot your password? Click here
close
SEARCH
 Top 100 Slideshow
contracts DB

Trending

  • Dive into our Contract Award database

    In an exclusive for WT Insider members, we are collecting all of the contract awards we cover into a database that you can sort by contractor, agency, value and other parameters. You can also download it into a spreadsheet. Read More

  • Is SBA MIA on contractor fraud? Nick Wakeman

    Editor Nick Wakeman explores the puzzle of why SBA has been so silent on the latest contractor fraud scandal when it has been so quick to act in other cases. Read More

Webcasts