Deltek to acquire market intell rival Onvia for $70M
(EDITOR’S NOTE: A prior version of the story said this is Deltek’s first acquisition under Roper Technologies’ ownership. Deltek acquired Workbook in late September.)
Nearly a year after being acquired itself, federal market intelligence giant Deltek announced an acquisition of its own Thursday with a deal to buy rival Onvia for approximately $70 million cash.
At $9.00 per share, the purchase price is double Onvia’s closing price of $4.50 on Wednesday. The companies expect to close the deal in the fourth quarter of 2017 pending the completion of Deltek’s all-cash tender offer for Onvia’s shares.