Don't expect it to sit there very long, though.
The private equity group has bought and sold many other ERP systems in the past, which are in various stages of putrefaction in the Graveyard - among them Activant, Prophet 21, Consona, and JDA. In this case, they're taking Deltek off the NASDAQ, and into their warm temporary embrace, before the company reaches its final destination at Epinforacle.
In the meantime, however, a number of law firms are suggesting that Deltek shareholders might prefer to get a little more than the $13/share Thoma Bravo is currently offering. Hmmm......
Update: Good piece by Chris Kanaracus at IDG, which has some tough-but-fair comments from Ray Wang, and some reminders of the company's poor financial performance lately. It references a number of acquisitions that Deltek has made; I'm aware of Maconomy last year, but not much more. Would like to add them to the Graveyard Scorecard, as they DEFINITELY qualify as Infor-bait now - if anyone has details on the acquisitions history, could you post to the comments below?
Some good history in two older writeups from PJ@ TEC here and here. And a brief review of the changing ownership picture from Wikipedia:
Founded in 1983, Costpoint product launched 1994, taken public 1997, taken private 2002, recap by New Mt. Capital 2005, taken public again 2007, now private again 2012. Whew!
The private equity group has bought and sold many other ERP systems in the past, which are in various stages of putrefaction in the Graveyard - among them Activant, Prophet 21, Consona, and JDA. In this case, they're taking Deltek off the NASDAQ, and into their warm temporary embrace, before the company reaches its final destination at Epinforacle.
In the meantime, however, a number of law firms are suggesting that Deltek shareholders might prefer to get a little more than the $13/share Thoma Bravo is currently offering. Hmmm......
Update: Good piece by Chris Kanaracus at IDG, which has some tough-but-fair comments from Ray Wang, and some reminders of the company's poor financial performance lately. It references a number of acquisitions that Deltek has made; I'm aware of Maconomy last year, but not much more. Would like to add them to the Graveyard Scorecard, as they DEFINITELY qualify as Infor-bait now - if anyone has details on the acquisitions history, could you post to the comments below?
Some good history in two older writeups from PJ@ TEC here and here. And a brief review of the changing ownership picture from Wikipedia:
Founded in 1983, Costpoint product launched 1994, taken public 1997, taken private 2002, recap by New Mt. Capital 2005, taken public again 2007, now private again 2012. Whew!
Multiple sources are reporting that CEO Kevin Parker is stepping down, and that the CFO Mike Corkery will be stepping up.
ReplyDeleteNot a huge surprise after a transaction like that, but...