Deltek Creates Industry’s Most Complete EVM Solution with Acquisition of C/S Solutions, Inc.
Deltek’s acquisition of C/SSI creates the most complete industry-leading EVM solution on the market.
C/SSI is the world’s principal producer of business intelligence tools for the earned value management (EVM) marketplace.
Deltek is a leading global provider of enterprise software and information solutions for professional services firms and government contractors.
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PRESS RELEASE OVERVIEW
Software Equity Group’s Client C/S Solutions Acquired by Deltek Systems
San Diego, CA, July 27, 2006 – Software Equity Group, LLC (SEG), a leading software industry investment bank and M&A advisory, announced today the sale of its client, C/S Solutions, Inc. (C/SSI) to Deltek Systems. C/SSI is the world’s principal producer of business intelligence tools for the earned value management (EVM) marketplace. Deltek Systems is the leading provider of enterprise management software for project-focused organizations.
The acquisition of C/SSI extends Deltek’s lead in the enterprise project management sector by incorporating powerful EVM analytics delivered by C/SSI’s wInsight™ software with Deltek’s own advanced EVM engine, Deltek Cobra™ — creating the most complete industry-leading EVM solution on the market. C/SSI wInsight is regarded as the established standard for government agencies in analyzing EVM data from federal contractors. C/SSI customers include virtually every aerospace and defense contractor, including market leaders such as Lockheed Martin, Boeing, Northrop Grumman and Raytheon. The acquisition will add more than 500 customers to Deltek’s existing base of 11,000 clients, including several federal agencies. Deltek will acquire C/SSI wholly, including the company’s entire employee base and three satellite locations outside Los Angeles, CA; in Tacoma, WA; and in Destin, FL.
C/SSI is Deltek’s second acquisition in the past five months. In March 2006 Deltek acquired Welcom, a global leader in EVM and PPM solutions. Software Equity Group served as advisor to Welcom in that transaction.