Project enhancement software company Deltek has finalized its agreement to buy quality assurance program maker TIP Technologies. Both companies primarily strive to serve the government contracting and aerospace and defense industries.
The transaction was initiated in mid-July and TIP’s addition is expected to bolster Deltek’s portfolio with quality management system and manufacturing execution system platforms, the Herndon, Virginia-based company said Monday.
Mike Corkery, CEO and president of Deltek, explained that the large amount of regulations and compliance rulings at the federal level calls for programs and services that properly prepare organizations while conducting their projects. Corkery asserts that the combined forces of the two companies will provide the integrated software that satisfies these needs.
Corkery, who is a two-time Wash100 Award winner, also noted that although the team is thrilled to collaborate with TIP’s, Deltek will continue to employ third party enterprise resource planning options for aerospace and defense clients.
One of Deltek’s primary customers that will also benefit from the acquisition are engineer-to-order firms. The company plans to demo and preview some of its plans for the partnership in the coming months, including at its Deltek ProjectCon annual business gathering in November.
“We are thrilled to now be a part of Deltek and I want to thank all our TIP Technologies employees and all the parties involved that helped us complete this acquisition,” commented Mike Miller, CEO and president of TIP Technologies.
In April, Corkery spoke with ExecutiveBiz for an Executive Spotlight interview wherein he discussed celebrating the company’s 40th anniversary, updates to its Costpoint program and more.
“We’re always looking to add solutions that are relevant in our target markets and add more value to our existing solution set for our target markets,” Corkery said, perhaps foreshadowing the upcoming acquisition of TIP.