M&A

Deltek to acquire market intell rival Onvia for $70M

(EDITOR'S NOTE: A prior version of the story said this is Deltek's first acquisition under Roper Technologies' ownership. Deltek acquired Workbook in late September.)

Nearly a year after being acquired itself, federal market intelligence giant Deltek announced an acquisition of its own Thursday with a deal to buy rival Onvia for approximately $70 million cash.

At $9.00 per share, the purchase price is double Onvia’s closing price of $4.50 on Wednesday. The companies expect to close the deal in the fourth quarter of 2017 pending the completion of Deltek’s all-cash tender offer for Onvia’s shares.

News of this deal comes 10 months after industrial and engineering conglomerate Roper Technologies acquired Deltek for $2.8 billion from private equity firm Thoma Bravo, which first purchased Deltek in 2012 for $1.1 billion. Deltek made six acquisitions and grew revenue 60 percent under Thoma Bravo's ownership, the investment firm said at the time of Deltek’s sale to Roper.

Headquartered in Seattle, Onvia’s market intelligence platform works to offer clients contracting leads in the federal, state and local government arenas. Deltek plans to integrate Onvia into the former’s flagship GovWin IQ platform widely used by government contracting firms.

Onvia reported $24.5 million in sales last year and $1.9 million in adjusted earnings before interest, taxes, depreciation and amortization expenses.

Onvia’s board of directors started a review of strategic alternatives for itself earlier this year, the company said in a release. Shares in Onvia soared to $8.99 in morning trade Thursday.

GCA Advisors LLC is acting as financial adviser to Onvia, and Perkins Coie LLP is legal adviser. Jones Day is the legal adviser for Deltek.

About the Author

Ross Wilkers is a senior staff writer for Washington Technology. He can be reached at rwilkers@washingtontechnology.com. Follow him on Twitter: @rosswilkers. Also find and connect with him on LinkedIn.

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

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. Our databases track awards back to 2013. Read More

  • Navigating the trends and issues of 2016 Nick Wakeman

    In our latest WT Insider Report, we pull together our best advice, insights and reporting on the trends and issues that will shape the market in 2016 and beyond. Read More

contracts DB

Washington Technology Daily

Sign up for our newsletter.

I agree to this site's Privacy Policy.