HERNDON, Va.--(BUSINESS WIRE)--Deltek, Inc. (Nasdaq: PROJ), the leading global provider of enterprise software and information solutions for professional services firms, government contractors, and government agencies, today announced that it has acquired Washington Management Group (WMG), and its FedSources (FSI) and FedSources Consulting (FSI Consulting) businesses for $26 million in an all cash transaction.
With estimated revenue of $15 million for the fiscal year ended March 31, 2011, WMG, FSI, and FSI Consulting provide the market intelligence and consulting experience necessary to identify, qualify, and win government business. For over 25 years, the company has been an industry leader in providing consulting services and market intelligence to government contractors. With more than 900 clients and 20,000 users, the company helps identify and validate more than 3,500 opportunities worth hundreds of billions of dollars in annual market value.
This acquisition extends and accelerates Deltek’s unique portfolio of solutions that power the complete business lifecycle for government contractors. Our solutions span government opportunity information and intelligence, customer relationship management (CRM), business development and capture management, financial management, human capital management and project management. The addition of WMG and FSI bolsters Deltek’s portfolio of solutions by:
- Creating the industry’s broadest and deepest repository of government opportunity intelligence information. For over 25 years, FedSources has delivered government contract research, agency spending analysis, and targeted opportunity information in key areas such as national security, information technology, and architecture and engineering to clients interested in winning Federal business. By combining the rich opportunity intelligence from FedSources with the unique content, community and opportunity database from INPUT and GovWin, Deltek now delivers an unrivaled repository of government opportunities that represents over $500 billion in annual market value.
- Leveraging FedSources Consulting to deliver actionable, custom market analysis that better positions contractors to capture opportunities and grow their organizations. Deltek’s research and consulting experts develop plans that position contractors to grow organically or through acquisition. Our custom consulting engagements deliver pipeline development plans, opportunity-specific capture plans, and recommend acquisition candidates that align with contractors’ growth strategies.
- Offering comprehensive government schedule consulting to help companies find and keep profitable government contracts through The Washington Management Group. Deltek drives growth for companies interested in capturing Federal business by developing strategies that will enable them to profitably enter the government market. As part of these engagements, we work closely with companies to obtain and maintain both GSA and VA Schedule contracts. Our engagements maximize revenue opportunities and minimize risk by ensuring compliance policies and programs are in place to enhance contract conformance. In this way, we make it easier for companies to do business with the government and easier for the government to do business with key contractors.
“Acquiring WMG and FedSources significantly expands our solutions portfolio and drives new growth opportunities with new customers and within our existing base of over 4,000 government contractors,” said Kevin Parker, President and CEO of Deltek. “This acquisition extends our capabilities as the premier end-to-end government contracting solutions partner – providing an unmatched suite of solutions from business development and capture management to comprehensive financial and project management. In addition, it expands our strong recurring revenue stream. Our integration process is underway, and we expect to benefit from many future synergies as we leverage this acquisition to be a growth catalyst for Deltek.”
“Combining the Washington Management Group and FedSources with Deltek and its INPUT and GovWin solutions provides our organization with a unique opportunity to deliver game-changing value to our customers,” said Bill Gormley, President and CEO of Washington Management Group and FedSources. “The government domain expertise of WMG and FSI together with the global reach and industry-standard software solutions from Deltek provides contractors with one strategic partner that delivers a full lifecycle of success to companies that want to enter and win in the government marketplace.”
Deltek (Nasdaq: PROJ) is the leading global provider of enterprise software and information solutions for professional services firms, government contractors, and government agencies. For decades, we have delivered actionable insight that empowers our customers to unlock their business potential. Over 14,000 organizations and 1.8 million users in approximately 80 countries around the world rely on Deltek to research and identify opportunities, win new business, optimize resources, streamline operations, and deliver more profitable projects. Deltek – Know more. Do more.™ deltek.com.
Follow Deltek at Twitter.com/Deltek and participate in the conversation #DeltekFedSources
This press release contains forward-looking statements that involve substantial risks and uncertainties. You can identify forward-looking statements by words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan," "should," "would" or similar words. You should consider these statements carefully because they discuss our plans, targets, strategies, prospects and expectations concerning our business, operating results, financial condition and other similar matters. We believe that it is important to communicate our future expectations to our investors. There will be events in the future, however, that we are not able to predict accurately or control. Our actual results may differ materially from the expectations we describe in our forward-looking statements. Factors or events that could cause our actual results to materially differ may emerge from time to time, and it is not possible for us to accurately predict all of them. Before you invest in our common stock, you should be aware that the occurrence of any such event or of any of the additional events described as risk factors in the Company's filings with the Securities and Exchange Commission could have a material adverse effect on our business, results of operation and financial position. Any forward-looking statement made by us in this press release speaks only as of the date on which we make it. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.