Deltek closes $70M Onvia acquisition

Public sector market intelligence firm Deltek said Friday it has completed its $70 million acquisition of now-former rival Onvia.

First announced in October, Deltek seeks to bolster its flagship GovWin IQ contracting data platform with the addition of Onvia's tool that also offers leads in the federal, state and local government markets.

The purchase price amounts to $9.00 per share for Seattle-based Onvia at double that of its $4.50 closing price on Oct. 4 prior to the deal's initial announcement.

Onvia was in the midst of a review of strategic alternatives for itself before it agreed to be acquired by Deltek.

Herndon, Va.-based Deltek itself was acquired in December of last year by the conglomerate Roper Technologies for $2.8 billion.