Deltek's next project is an IPO

For companies like defense contractors and IT consultants, it's imperative to have strong project management processes. No doubt, there is a lot of software to help out and the market size is a tidy $17.4 billion worldwide.

A key player in the space is Deltek. And now the company has filed to go public.

Founded in 1983, Deltek has developed a comprehensive offering that automates the engagement, execution and delivery of projects. Over the years, the firm has racked up more than 12,000 customers in industries like architecture and engineering (A/E), government contracting, aerospace, defense, information technology services, and so on.

It's turned out to be a nice growth story. In 2006, revenues spiked 49% to $228.3 million and net income surged 75% to $15.3 million.

Interestingly enough, in 1997 the company had an IPO. But in 2002, the company went private.

The main investor is private equity firm New Mountain Partners.

The lead underwriter is Credit Suisse (NYSE: CS) and the proposed ticker symbol is "PROJ."

You can find the IPO filing at the SEC's website.

Tom Taulli is the author of various books, including the Complete M&A Handbook and the EDGAR-Online Guide to Decoding Financial Statements.