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Deltek authorizes stock repurchase

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The board of directors of Herndon-based Deltek has approved a stock repurchase program.

Under the program, which began Wednesday, the company is authorized to buy up to $30 million of its outstanding shares of common stock. The timing of the stock purchases will depend on the current share price, prevailing economic and market conditions and other corporate considerations.

Deltek’s stock closed Thursday at $5.70 a share on the Nasdaq exchange.

Deltek is a major provider of enterprise software and information solutions for government contractors and professional services firms.

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