TIP Technologies said Thursday that it agreed to be acquired by Deltek Inc., a global provider of software and solutions in Virginia.
TIP Technologies, a Waukesha firm that serves global customers with integrated quality assurance software, said in a press release that the terms of the agreement were agreed upon, but certain closing conditions must still be met. The companies expect to close the transaction in the third quarter of 2022.
Terms were not disclosed in the press release.
Mike Miller, founder and CEO of TIP Technologies, said in an email that the TIP Technologies team will still operate out of its Wisconsin office or remotely as employees have been.
Deltek has more than 30,000 customer organizations worldwide and millions of users. It's based in Herndon, Virginia, with offices in Canada, Germany, Australia and other countries. With this acquisition, Deltek said, it will add quality management system (QMS) and manufacturing execution system (MES) capabilities to its portfolio of solutions for government contractors, aerospace and defense (A&D) and engineer-to-order (E2O) firms.
Deltek and TIP Technologies have worked together previously as the two private organizations partnered in 2017.
“We already had a robust integration with Deltek Costpoint, as well as other major manufacturing capable ERP vendors, and will continue to do so,” TIP Technologies founder and CEO Mike Miller said in the release. “By partnering with Deltek, we will be able to deepen our capabilities and provide more value to our customers.”
Deltek said the acquisition will expand its capabilities for aerospace and defense as well as engineer-to-order manufacturers.
“We’ve had a long-standing partnership with TIP Technologies for many years, and mutual customers who are already benefiting from our close integration,” Deltek’s president and CEO Mike Corkery said in the release. “This acquisition is a natural evolution of our partnership, and will create a more effortless way for our customers to get the combined benefits of our collective solutions.”
Founded in 1989 by Miller, TIP Technologies was reported by the Milwaukee Business Journal on July 1 as having 20 local employees with half of them being software engineers.
