Thursday, May 11, 2006

Washington Post Deltek coverage

The Washington Post has a fairly detailed article on Deltek titled "Outsider to become chairman of Deltek". It begins with coverage of the recent press release and goes on to trace Deltek's history and future plans. It mentions Deltek's return to becoming a public company:
He (Kevin Parker) noted that while the firm does not have a timetable for a public offering, such a move would represent "an opportunity."

"Historically, Deltek has been a word-of-mouth business. Being a public company would give a larger sense of awareness of what our company is and what our expertise is."
The most interesting comment comes from Mark Amtower, a partner with the marketing consulting firm Amtower & Co. He is quoted as saying: "They want to migrate their platform to the integrator level and go after the big boys."

Does this mean we can expect more Deltek partners and professional IT firms to support and implement Costpoint?

Please click on "Read the rest of this article!" link below for more excerpts from the article.

The entire article is available online at
Until last year, Deltek had been run by only two men in its history: deLaski and his father, Donald deLaski, an accountant who specialized in the arcane rules of government contracting. Hoping to develop an accounting program designed around those rules, they co-founded Deltek in 1983 with $250,000 and two programmers.
In April 2005, New York-based private equity firm New Mountain Capital LLC bought 75 percent of Deltek's shares for $205 million.
In February, Deltek announced revenue of $150 million for 2005, the second straight year in which it rose more than 20 percent.


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