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Financial News Network
September 25, 2012 AT 12:26 AM
Thomas Bravo LLC announced Monday it will be acquiring Deltek Inc. and will take the company private. Bravo will buy Deltek for $890.5 million, paying $13 a share, lower than Fridays closing of $14. Deltek is a supplier of software and information technology, making it the ideal acquisition for Thomas Bravo, which focuses its investements in software and financial services companies. The deal has been approved by Deltek's 59.5% stock holder, New Mountain Capital LLC, meaning no added approval is necessary. The deal is expected to close in the last quarter of 2012.