Deltek (NASDAQ: PROJ) has reached an agreement to purchase Washington Management Group, including FedSources and FedSources Consulting for $26 million in an all cash transaction.
WMG, FSI, and FSI Consulting provide market intelligence and consulting to government contracting firms.
“Acquiring WMG and FedSources significantly expands our solutions portfolio and drives new growth opportunities with new customers and within our existing base of over 4, 000 government contractors, ” Deltek CEO Kevin Parker said. “This acquisition extends our capabilities as the premier end-to-end government contracting solutions partner – providing an unmatched suite of solutions from business development and capture management to comprehensive financial and project management. In addition, it expands our strong recurring revenue stream. Our integration process is underway, and we expect to benefit from many future synergies as we leverage this acquisition to be a growth catalyst for Deltek.”
WMG President and CEO Bill Gormley said the move would provide his group the opportunity to extend its business reach.
“Combining the Washington Management Group and FedSources with Deltek and its INPUT and GovWin solutions provides our organization with a unique opportunity to deliver game-changing value to our customers, ” Gormley said. “The government domain expertise of WMG and FSI together with the global reach and industry-standard software solutions from Deltek provides contractors with one strategic partner that delivers a full lifecycle of success to companies that want to enter and win in the government marketplace.”
