Tags: deltek | thoma-bravo | software | acquire

Deltek to Be Acquired by Thoma Bravo for $1.1 Billion

Monday, 27 August 2012 08:19 AM

Deltek Inc., a computer software maker, agreed to be taken private by private-equity firm Thoma Bravo LLC for $1.1 billion in cash.

Deltek stockholders will receive $13 a share, the companies said Monday in a statement. That’s 24 percent more than Deltek’s stock price on June 11, the day before the company announced information about the sales process.

Thoma Bravo gains a software company used by 15,000 organizations and 2 million users in more than 80 countries. The offer price represents a multiple of 14.6 times Deltek’s earnings before, interest, depreciation and amortization over the past twelve months as of June 30.

New Mountain Capital, Deltek’s largest shareholder, approves of the transaction, according to the statement.

Herndon, Virginia-based Deltek’s shares were halted in early trading and gained 0.3 percent to $14.01 on Aug. 24. The stock had increased 43 percent this year through Aug. 24.

© Copyright 2020 Bloomberg News. All rights reserved.

1Like our page
Monday, 27 August 2012 08:19 AM
Newsmax Media, Inc.
Newsmax TV Live

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

© Newsmax Media, Inc.
All Rights Reserved