Onvia, which provides business intelligence services to companies looking to sell Uncle Sam their technology, was acquired Thursday by Deltek for $70 million in an all-cash offer.
Deltek will add Onvia’s analytical services to its roster of enterprise technology, which helps companies working on big projects manage the process, according to a press release. That roster includes business intelligence software that helps companies find new ways to pitch their services or new opportunities for increased business with current clients.
Onvia went public back in 2000 and at one point traded at an astounding $563 a share (the first dot-com bubble was kind of insane). The company, co-founded by Kristen Hamilton, whose current company Koru was GeekWire’s Startup of the Year in 2015, never really recovered from the ensuing bust. It briefly flirted with the $1 a share threshold required to maintain a stock listing and settled into a $4-5 a share price for the next seventeen years; Deltek’s offer values the company at $9 a share.
This past January, Onvia named Russ Mann, who was the co-founder and CEO of search marketing agency Covario, as its CEO. After the completion of the deal, which is expected by the end of this year, Onvia will become a privately-held company once again.
Deltek is owned by Project Diamond Intermediate Holdings Corp, which actually laid out the cash for Onvia. Deltek, based in Herndon, Va., also does a lot of business with companies that sell products and services to government customers.