Software Equity Group’s Client Welcom Corporation Acquired by Deltek Systems
San Diego, CA, March 21, 2006 – Software Equity Group, LLC (SEG), a leading software industry investment bank and M&A advisory, announced today the sale of its client, Welcom Corporation, a global leader in earned value management (EVM) and project portfolio management (PPM) solutions, to Deltek Systems, Inc. The acquisition will enable Deltek, a leading provider of enterprise management software for project-focused organizations, to immediately provide important EVM capabilities to its broad government contracting customer base and deliver comprehensive PPM solutions for project-focused organizations worldwide.
"The acquisition of Welcom strategically complements Deltek's 20-plus-year standing as the worldwide leader in enterprise management software for project-focused organizations," said Kevin Parker, president and CEO of Deltek. "Welcom's expertise in EVM and PPM will enable the combined company to offer one of the most advanced PPM solutions available in the market and deliver a broader array of integrated mission-critical applications to our project-focused clients."
The acquisition will add more than 250 Fortune 1000 companies, including marquee names such as General Dynamics and BAE Systems, to Deltek's existing base of 11,000 clients. Welcom's established presence in the European, Asian and Australian markets will also create additional channels for Deltek to continue to expand its presence outside the United States.
"The combination of Deltek and Welcom creates a powerhouse focused on comprehensive PPM and enterprise management solutions for project-based businesses," said Steve Cook, president and co-founder of Welcom. "Both companies share a key focus on responsive customer care and a strong commitment to technological innovation, as well as similar business cultures and backgrounds. As a result, our customers will benefit from continued high levels of superior service and support, as well as access to an expanded product portfolio and increased knowledge sharing."