Plotted by close date where disclosed, otherwise announcement. Select any marker to jump to the deal entry.
Three patterns show up across Roper's deal book — what the team buys, how it pays, and how it integrates. The patterns are the throughline; the deals below are the evidence.
22 acquisitions. Each entry carries the deal value, financing structure, target revenue, executive commentary, and the original SEC filing — the evidence behind the patterns above.
Neptune Technology Group Holdings Inc. — water and utility metering products and automatic meter reading systems; acquired from Investcorp together with DAP Technologies and DB Microware. approximately $475 million.
These businesses are an excellent strategic fit with Roper and will be accretive to our EBITDA margins, cash flow and net sales growth,&Brian Jellison — President and Chief Executive Officer of Roper
Due to a growing focus on customer service, pricing, and conservation, utilities have a rapidly growing need to measure consumption of resources more frequently, accurately, and efficiently,&Mr. Jellison
TransCore is a provider of technologies and services in radio frequency identification (RFID), satellite-based communication, mobile asset tracking, security applications, and comprehensive toll systems and processing services. Roper acquired TransCore Holdings from an investor group led by KRG Capital Partners to expand its radio frequency identification and comprehensive systems and services offerings. The all-cash transaction was valued at approximately $600 million (about $597 million net of cash and debt) and closed on December 13, 2004. approximately $600 million.
CBORD, headquartered in Ithaca, New York, supplies campus card systems, integrated security and access controls, and related payment technology to higher-education and healthcare institutions. Roper completed the purchase in February 2008 for roughly $375 million in cash. The company was drawn to CBORD's strong customer retention and its recurring, subscription-like revenue across the education and healthcare end markets, which it viewed as offering durable growth. approximately $367 million.
Global provider of software-as-a-service based trading network and business intelligence solutions to the food industry. approximately $525 million.
Sunquest develops diagnostic and laboratory information software used by hospitals and clinical laboratories. Roper acquired all of its shares in August 2012 in an all-cash deal valued at about $1.415 billion, including roughly $25 million of cash tax benefits. The acquisition expanded Roper's healthcare information-technology franchise with a business built on recurring revenue. approximately $1.415 billion.
Managed Health Care Associates (MHA), headquartered in Florham Park, New Jersey, provides services and technologies supporting alternate-site health care providers who deliver care outside the acute-care hospital setting, holding leading positions in niches such as long-term care pharmacies, assisted living facilities, infusion and specialty pharmacies, and other alternate-site providers. Roper acquired MHA to complement and expand its medical software and services platform. The all-cash transaction was valued at $1.0 billion and closed on May 1, 2013, and Roper expected it to be immediately cash accretive and to generate roughly $95 million of EBITDA in the first twelve months. approximately $1.0 billion.
iSqFt Holdings Inc. (d/b/a ConstructConnect) — a provider of cloud-based data, collaboration, and workflow automation solutions to the commercial construction industry, operating the largest cloud-based network for collaboration across the pre-construction process. approximately $632 million.
ConstructConnect has created the largest cloud-based network for collaboration between participants in the commercial construction industry. Its solutions facilitate the pre-construction process from opportunity identification through project award, driving efficiency and creating revenue opportunities for its users.Brian Jellison — Chairman, President and CEO, Roper Technologies
Deltek is a leading global provider of software and information solutions for project-based businesses, serving niche markets including government contractors and professional services firms. Roper acquired Deltek to add a large, high-quality application software franchise with recurring revenue and strong cash flow. The all-cash transaction was valued at $2.8 billion and closed on December 28, 2016, funded through a notes offering, credit facility borrowings, and cash on hand. approximately $2.8 billion.
We are excited to announce Deltek as our next great software business,&Brian Jellison
iPipeline delivers cloud-based software for the life insurance and annuity industries, providing workflow automation and integration across roughly 150 carriers, 1,350 distributors, and more than 500,000 agents. Roper acquired iPipeline to add a high-growth, recurring-revenue SaaS business to its software portfolio. The all-cash transaction was valued at $1.625 billion and closed on August 22, 2019, with iPipeline expected to contribute about $200 million of revenue and $70 million of after-tax free cash flow in 2020. approximately $1.625 billion.
The iPipeline transaction demonstrates our disciplined capital deployment strategy by acquiring another high-quality business that will help grow and compound our cash flow.Neil Hunn — Roper's President and CEO
Vertafore is a leading provider of SaaS solutions for the property and casualty insurance industry, offering cloud-based agency management, compliance, workflow, and data solutions relied on by more than 20,000 agencies and 1,000 insurance carriers. Roper acquired Vertafore to add a market-leading, recurring-revenue software franchise serving the insurance vertical. The all-cash transaction carried an enterprise value of approximately $5.35 billion and closed on September 3, 2020. approximately $5.35 billion.
Vertafore is a fantastic business characterized by clear leadership in its niche market, a strong management team, high customer retention, and a long track record of consistent revenue and cash flow growth. The acquisition of Vertafore is a great example of our disciplined capital deployment strategy which focuses on durable, long-term cash flow compounding. We look forward to welcoming Vertafore to the Roper family.Neil Hunn — Roper's President and CEO
Frontline Education provides a connected platform of cloud-based administrative software purpose-built for K-12 education, spanning human capital management, business operations management, student management, and analytics used by more than 10,000 educational organizations. Roper acquired Frontline to add a leading vertical software business with durable recurring revenue. The all-cash transaction was valued at approximately $3.725 billion (about $3.375 billion net of a tax benefit, roughly 19 times estimated 2023 EBITDA) and closed on October 4, 2022, with the management team continuing to lead the business from Malvern, Pennsylvania. approximately $3.725 billion.
Frontline is a terrific business with clear niche market leadership, a proven track record of strong organic and inorganic growth, excellent cash conversion, and an outstanding management team that will thrive as part of Roper. The acquisition of Frontline demonstrates Roper's disciplined capital deployment strategy that focuses on identifying high-quality, market-leading technology businesses that will enhance Roper's cash flow compounding.Neil Hunn — Roper's President and CEO
Strata Decision Technology, LLC — a leading provider of cloud-based financial planning, decision support, and performance management software for healthcare providers; acquired January 21, 2015. approximately $140 million.
Software technologies and AI-enabled solutions used to deliver visual effects and 3D content for the entertainment and digital design industries. approximately $544 million.
EPSi is a leading provider of financial decision support and planning tools for hospitals and health systems. Roper acquired substantially all of the assets of the EPSi business from Allscripts and integrated it into its Strata Decision Technology business to strengthen its health care financial planning and performance software offering. The acquisition closed on October 15, 2020, with total consideration of $365.0 million. approximately $365 million.
Leading provider of cloud-based performance management and data solutions for healthcare, financial institution, and higher education providers; integrated into Roper's Strata business. approximately $1.381 billion.
Provider of time-tracking software solutions for project- and services-centric organizations; integrated into Roper's Deltek business. approximately $447.5 million.
Executive Business Services, Inc. (ProPricer) — a leading provider of proposal pricing software solutions for government contractors and government agencies; integrated into Roper's Deltek business.
Genesis Ultimate Holding Co., parent of Procare Software, LLC — a leading provider of SaaS and integrated payment processing for the management of early childhood education centers. approximately $1.860 billion.
RCP Vega Holdings, LLC, parent of Transact Campus Inc. — a leading provider of integrated campus technology and payment solutions (campus identity, secure access, tuition/fees management, payment processing, point-of-sale commerce) serving higher education, healthcare, and business campuses; integrated with Roper's CBORD business. approximately $1.607 billion.
CentralReach Holdings, LLC — a leading provider of SaaS and AI-enabled solutions enabling the workflow and administration of ABA therapy for ASD and related disabilities care. approximately $1.850 billion.
Subsplash TopCo, LLC — a leading provider of AI-enabled SaaS providing digital engagement, church management, and integrated giving solutions for faith-based organizations. approximately $800 million.
Promium, L.L.C. — a leading provider of laboratory information management systems in the environmental and water markets; integrated into Roper's Clinisys business.