Deltek boosts creative industry solutions with WorkBook acquisition
Deltek, a technology player focused on the professional services industry, has acquired WorkBook. The deal sees Deltek add a team of 70 professionals to its network, based in five offices globally, serving customers in over 40 countries across all corners of the globe.
With around 22,000 clients, Deltek is one of the world’s largest providers of enterprise software and solutions for project-based businesses, including consulting firms, engineering consultancies, creative agencies, marketing firms, and government contractors.
The firm’s acquisition of Copenhagen headquartered WorkBook significantly bolsters its mark in the creative industry by bringing in more resources, capabilities and expertise. Founded in 2000 in Denmark, WorkBook is one of the most widely used enterprise tools in the advertising industry globally, providing creative and digital marketing agencies the capabilities to run their internal operations in an effective manner. WorkBook's ERP solution offers several hundred firms in 40+ countries with software and tools for, among others, customer relationship management, sales & forecasting, project & resources, collaboration and finance & accounting.
“Adding WorkBook to the Deltek family allows us to further our commitment to the creative industry and bolster our capabilities across all project-based verticals to help businesses run better,” said Mike Corkery, President and CEO of Deltek. “Together, we will deliver the best-in-class solution to the creative industry.”
Deltek has, in recent years, frequently turned to M&A to grow its footprint and enhance / deepen its suite of enterprise software solutions. Last year the US headquartered company purchased Union Square, a provider of solutions for the Architecture, Engineering and Construction (AEC) sector, with the bolted-on expertise adding to another deal in the AEC industry it closed in 2014 – that of US based Axium. Additionally, Deltek snapped up Hrsmart in 2015, a provider of talent management solutions; in 2014 it bought UK based Sohnar; and in 2013 it completed the signings of Acumen and competitor Centurion Research.
The firm itself was acquired in late 2016 by US listed Roper Technologies in a deal valued at $2.8 billion, leaving its former owner, private equity firm Thoma Bravo, with a major premium on its investment. Thoma Bravo roped in Deltek in 2011, four years after the company went public again, for a reported $1.1 billion.
Asked about the integration of WorkBook into Deltek, Corkery said he believes that the “great cultural fit” between the two parties will provide for a smooth transition. “Like Deltek, WorkBook lives by its core values including customer focus, collaboration, and integrity, which demonstrates to us it's a great cultural fit – an important component of any acquisition.”
Commenting on the deal, Niels Heimburger, CEO and Founder of WorkBook, said “Our organisations have decades of experience working with advertising and marketing firms around the globe. Deltek and WorkBook share a unique focus on purpose-built software for project-based businesses – and combined, we will accelerate and improve our client's business processes. WorkBook couldn't have found a better home.”
