Deltek buys Welcom

Deltek Systems Inc. has acquired Welcom Software Technology Corp., a provider of project management software. Terms of the deal were not disclosed.

As a result of the acquisition, Deltek of Herndon, Va., will be able to offer earned value management to its government customers and deliver comprehensive project portfolio management solutions for project-focused organizations.

The acquisition of Welcom of Houston will add more than 250 Fortune 1000 companies to Deltek's existing base of 11,000 clients. In addition, the deal will create additional channels for Deltek to continue to expand its presence outside the United States.

Welcom products, such as Cobra and Open Plan, will continue to be developed, licensed, maintained and supported by Deltek, company officials said. These products will integrate portfolio analysis, risk management, cost and earned value management and project collaboration functionality with Deltek's enterprise management solutions.

Earned value management is a project management technique for estimating how a project is doing in terms of its budget and schedule.

Project portfolio management refers to the method of organizing a series of projects into a single portfolio consisting of reports that capture key project objectives, such as costs, timelines, accomplishments, resources and risks.

The deal is privately held Deltek's second acquisition in six months. In October, Deltek acquired Wind2, a financial management software firm based in Fort Collins, Colo.