DeltekÂ has closed itsÂ $70 million cash acquisition of OnviaÂ in a move to expand the delivery of public sector procurement data and market intelligence to government contractors.
Deltek said Friday it will combine Onvia with its GovWin IQÂ market intelligence platform for GovCon companies through the transaction originally announced in October.
Onviaâs board of directors unanimously approved the transaction in which Deltekâs parent firm – Project Diamond Intermediate HoldingsÂ â assumed majority of the formerâs outstanding common stock for $9 per share.
Mike Corkery, president and CEO of Deltek, said the acquisition would allow the firm to offer clients with expanded offerings designed to help secure more business opportunities and support project pursuits.
Onvia stopped trading on Nasdaq Friday as a result of the transaction and its stock closed at $9 per share.