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Monday, August 27, 2012

Deltek to go private in $1.1 billion deal


Software maker Deltek Inc (PROJ.O) has agreed to be bought out by private equity firm Thoma Bravo in a deal valued at $1.1 billion. The $13 peer share offer represents a 7 percent discount to the stock's Friday close of $14.01 on the Nasdaq. Deltek shares have gained about 14 percent since talks of a deal were first reported late last month. The all cash deal was approved by New Mountain Capital, which is Deltek's biggest shareholder, and wouldn't require ratification from other stockholders, the company said. 

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