Author: Jane Edwards|| Date Published: November 20, 2017
Deltek has closed its $70 million cash acquisition of Onvia in a move to expand the delivery of public sector procurement data and market intelligence to government contractors.
Deltek said Friday it will combine Onvia with its GovWin IQ market intelligence platform for GovCon companies through the transaction originally announced in October.
Onvia™s board of directors unanimously approved the transaction in which Deltek™s parent firm – Project Diamond Intermediate Holdings “ assumed majority of the former™s outstanding common stock for $9 per share.
Mike Corkery, president and CEO of Deltek, said the acquisition would allow the firm to offer clients with expanded offerings designed to help secure more business opportunities and support project pursuits.
Onvia stopped trading on Nasdaq Friday as a result of the transaction and its stock closed at $9 per share.
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Deltek has closed its $70 million cash acquisition of Onvia in a move to expand the delivery of public sector procurement data and market intelligence to government contractors.
