Project Diamond Intermediate To Acquire Onvia For $9.00/shr - Quick Facts

(RTTNews) - Onvia (ONVI) announced an agreement and plan of merger with Project Diamond Intermediate Holdings Corp, the parent entity of Deltek, and Deltek, a global provider of enterprise software and information solutions for government contractors, professional services firms and other project-based businesses. Project Diamond Intermediate Holdings Corp will acquire all of the outstanding shares of Onvia common stock for $9.00 per share in an all-cash tender offer. The value of the transaction is approximately $70 million.

The transaction will be completed through an all-cash tender offer. The Onvia Board unanimously recommended that stockholders tender their shares in the offer. Following the transaction, Onvia will become a privately held company and its common shares will no longer be listed on any public market.