Tech company Roper Technologies has signed a deal to buy enterprise software and solutions provider Deltek.
The all cash deal is valued at $2.8 billion.
Roper Technologies is in the business of acquiring technology companies in global niche markets. Deltek caters to project-based businesses such as government contractors and professional services companies, and following the acquisition will operate as a distinct company within Roper. Deltek’s name, brand, office locations, strategy and global team will not change as a result of the deal.
Prior to being acquired by Roper, Deltek was owned by private equity firm Thoma Bravo which purchased the company in 2012.
“Roper’s acquisition of Deltek is a great outcome for our employees, customers and partners,” said Mike Corkery, president and CEO of Deltek, in a statement. “… Roper’s commitment to aggressively investing in our products and employees means we will continue to deliver the solutions and expertise that drives significant benefits for our customers.”
“Deltek offers everything we look for in a Roper company – a specialized focus, innovative products, loyal customers, and a talented team,” stated Brian Jellison, Roper’s chairman, president and CEO. “We look forward to partnering with Mike and the management team to take all that is great about Deltek and accelerate its essential strengths moving forward.”
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