‘ The Deltek acquisition is consistent with our disciplined capital development
strategy, which results in the acquisition of elevated performing niche businesses
that raise and compound our cash flow’, said Brian Jellison.
Roper technologies have recently announced that it has gone into an ultimate
agreement to acquire Deltek, a leading provider of software and solutions in all
cash transactions valued at 2.8 billion dollars. The company is serving niche
markets including professional service firms and government contractors. Deltek’s
innovative software enable their businesses to detain opportunities, recruit and
build up talent, optimize resources, rationalize operations and deliver their
projects on estimated time with enhanced profitability, having millions of end
users with 22000 organizations in more than 80 countries.
The acquisition will be funded by cash on hand; borrowing under Roper’s
accessing credit facility and new debt which the company plans to issue this
month. Roper technologies have a successful history of acquiring well run
technology companies in universal niche markets that have powerful sustainable
growth potential and Deltek is an excellent fit for Roper’s long term policy. ‘Roper
provides a permanent home for Deltek and a long-term foundation that we can
use to further solidify our position as the worldwide leader in solutions for
project-based businesses. Roper’s obligation to insistently invest in our products
and people ensures we will carry on delivering the solutions and expertise that
constrain significant benefits for our customers’, said Mr. Mike Corkery President
and CEO of Deltek.
Deltek will manoeuver as a distinct company within Roper and its name, brand,
office, locations; strategy and a global team will remain the same and will not
change because of acquisition. Prior to being acquired by Roper, Deltek was
owned by private equity firm Thoma Bravo which obtained the company in 2012.