NEWS28 August 2012

Deltek acquired by Thoma Bravo for $1.1bn

M&A North America

US— Deltek, a project management software firm that owns research agencies Washington Management Group and Input, is to be acquired by private equity investment firm Thoma Bravo for $1.1 bn.

The deal includes the Washington Management Group’s FedSources and FedSources Consulting businesses that provide research, analysis and advice on federal government contracts and spending, and the government contract market research and analysis firm Input.

Under the deal, Deltek’s stockholders will receive $13 in cash for each share of Deltek stock when the transaction closes in Q4 2012. The company’s board of directors has unanimously approved the terms, and its largest shareholder, New Mountain Capital, has consented in favour of the acquisition.

Kevin Parker, Deltek’s president, CEO and chairman of the board, said: “This deal with Thoma Bravo delivers significant value to all of our existing shareholders and gives us a partner that is committed to Deltek’s mission of being the industry standard solutions provider to project-based businesses worldwide.”

After the acquisition closes, Deltek will remain headquartered in Herndon, VA and will continue to be led by its existing senior management team. Deltek will become a privately held company and its stock will no longer trade on the NASDAQ.