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Deltek To Be Acquired By Thoma Bravo For $1.1 Billion Or $13 Per Share In Cash

“We have a long history of investing in highly respected and industry-leading software companies,” said Orlando Bravo, managing partner at Thoma Bravo. “In Deltek, we found a vertical market leader with unmatched solutions, a loyal and broad customer base, passionate employees and significant organic and acquisition-led growth opportunities, and the firm is confident in our approach and experienced in leveraging such assets to drive growth.”

“Deltek’s powerful brand presence in the government contractor, professional services, and project-oriented markets makes it well poised for continued global industry leadership,” said Thoma Bravo partner Holden Spaht. “Thoma Bravo is excited to work with Deltek’s leadership team to accelerate growth of the company through the firm’s proven buy and build strategy.”

“Working with Kevin Parker and the entire Deltek team to build the company into a global market leader has been a true success story for New Mountain Capital and highlights our focus on building great businesses,” said Alok Singh, lead director of Deltek’s Board of Directors, and a managing director at New Mountain Capital. “We are very proud of the accomplishments that Deltek has achieved during the time we held a majority share in the company. Since we first invested in Deltek, the company has more than doubled in revenue, added more than 4,000 customers, built a global presence with customers in over 80 countries, and is the enterprise solutions provider of choice to some of the world’s most prestigious Global 2000 companies.”

New Mountain Capital consented to the acquisition and holds 100% of Deltek’s Class A stock and 59.5% of the Company’s common stock. No further approval of Deltek’s stockholders is required to approve the transaction. An information statement will be mailed to the stockholders. This transaction is subject to customary closing conditions and regulatory approvals, including, among other things, expiration or termination of the waiting period under the Hart Scott Rodino Antitrust Improvements Act of 1976. The transaction is anticipated to close during the fourth quarter of 2012. 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 also become a privately held company and its stock will no longer trade on the NASDAQ following the acquisition’s close.

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