Project-focused ERP software maker Deltek Inc. hasoffered to buy Denmark-based enterprise software maker Maconomy, a move thatwould effectively add 600 customers in 60 countries -- particularlyadvertising, public relations and consulting companies, and accounting firms.
Deltek is offering Maconomy shareholders 20.50 kroner pershare ($3.28) in cash for each Maconomy share. The offer price represents apremium of approximately 50 percent over the closing price for Maconomy'sshares on June 1, 2010. The offer period is scheduled to remain open for aperiod of four calendar weeks, closing on July 1. An announcement of thecompletion of the tender offer is expected to occur on or about July 6, 2010.
This combination offers multiple benefits for bothcompanies, including expanding Deltek's geographic reach into Europe andMaconomy's further into North America. In addition, the combined company willcover all major segments of the professional services market.
"We are very excited to combine Maconomy's industry-leadingcapabilities and domain expertise with Deltek, and we are committed toinvesting in both the Maconomy and Deltek product suites to provide maximumvalue and flexibility to our customers," said Deltek president and chiefexecutive Kevin Parker. "There are obvious strategic opportunities fromthis combination, and Maconomy's innovative software solutions and geographicreach perfectly complement Deltek's existing offerings for professionalservices firms. By merging the two organizations together, we will accelerategrowth internationally, penetrate new markets around the world, and delivernew, innovative functionality to our customers."
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