Roper Technologies acquired iPipeline for approximately $1.625 billion, a transaction completed in August 2019, structured as all cash.
iPipeline operates in Application Software (life insurance), is based in Exton, Pennsylvania. 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.
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
Advisory firms were not disclosed for this transaction.