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Virginia’s Deltek files for IPO

May 9th, 2007

HEARNDON, VA—Deltek Inc., which sells enterprise applications software for project-focused organizations, has filed a registration statement with the Securities and Exchange Commission for a proposed initial public offering of its common stock.

A portion of the shares will be issued and sold by Deltek and a portion will be sold by certain stockholders of Deltek.

Deltek sells specialty software to project-oriented companies that often cannot use off-the-shelf products for the particular needs. A prominent industry research firm estimates the size of the worldwide enterprise software market for project-focused organizations at $17.4 billion in 2005 and projects it to grow to $22.9 billion by 2010, the company says in its filing.

Deltek says it has over 12,000 customers worldwide that spanned numerous industries and ranged in size from small organizations to large enterprises. We serve customers primarily in the following markets: architecture and engineering, government contracting, aerospace and defense, information technology services, consulting, discrete project manufacturing, grant-based not-for-profit organizations and government agencies.

For the year ended December 31, 2006, Deltek’s total revenue increased 49 percent to $228.3 million, and its net income increased 75 percent to $15.3 million, in each case from the prior year.

The company has an unusual history and as Deltek Systems Inc., was a public company from 1997 through 2002 as when it became private again. In April of 2005, it completed a recapitalization through New Mountain Funds. It reincorporated in April as Deltek Inc.

For more information see: www.deltek.com

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