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Deltek Extends Lead In Project-Based Enterprise Software Sector With Acquisition of Welcom
The acquisition of Welcom Corporation will enable Deltek Systems to immediately provide important EVM capabilities to its broad government contracting customer base and deliver comprehensive PPM solutions for project-focused organizations worldwide.
We were approached by a prospective buyer, and with so much riding on the outcome, we chose SEG to represent us because of their reputation and track record. It was clear from the outset we had chosen wisely. They understood our business and grasped our value proposition from the inception, led us deftly through a very complex and sometimes difficult process, and skillfully negotiated an exit that enabled us to truly realize the fruits of our labors. We are profoundly grateful."
- Steve Cook, Former CEO, Welcom
SEG served as exclusive advisor to Welcom
Client Description
The company
Welcom is a global leader in earned value management (EVM) and project portfolio management (PPM) solutions.
Buyer Description
The company
Deltek is a leading global provider of enterprise software and information solutions for professional services firms and government contractors.
Headquarters
Herndon, VA
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PRESS RELEASE OVERVIEW
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.”