News from the Wire

Roper Technologies to acquire Transact Campus

Thursday, August 15, 2024 — 11:46:24 (EDT)

SARASOTA, Fla., Aug. 15, 2024 (GLOBE NEWSWIRE) -- Roper Technologies, Inc. (Nasdaq: ROP) today announced that it has entered into a definitive agreement to acquire Transact Campus, Inc. (“Transact”) for a net purchase price of $1.5 billion, including a $100 million tax benefit resulting from the transaction. The net purchase price represents approximately 14 times expected 2025 EBITDA. Transact is an award-winning provider of innovative campus technology and payment solutions, offering a comprehensive suite of services, including campus ID software and secure access, tuition and fees software and payment processing, as well as point-of-sale campus commerce solutions. Transact serves higher education institutions, healthcare facilities, and corporate campuses. Transact will be combined with Roper’s CBORD business, a provider of foodservice, nutrition, access & security, and campus commerce solutions for acute healthcare and senior living facilities, higher education institutions, and K-12 school districts.

“Transact is an excellent business that meets all of our acquisition criteria, including mission critical solutions, strong customer retention, and excellent cash conversion,” said Neil Hunn, Roper Technologies’ President and CEO. “This is yet another example of Roper’s disciplined and process-driven acquisition approach.”

The combined business will utilize both the Transact and CBORD brand names and be led by Transact’s CEO, Nancy Langer, with CBORD’s CEO, Dan Park, serving as Chief Operating Officer.

“Bringing together Transact and CBORD and leveraging each business’s unique core competencies will expand and accelerate the innovation they will bring to their customers,” said Mr. Hunn. “The work Nancy and her leadership team have undertaken is very impressive, and we are excited to welcome them to the Roper family.”

Acquisition financing and financial outlook

The transaction is scheduled to close in the immediate future and Roper will fund the acquisition using its cash on hand and revolving credit facility.

Transact is expected to contribute approximately $325 million of revenue and $105 million of EBITDA in 2025, including cost synergies across the combined enterprise. Roper expects Transact to deliver long-term high single-digit organic revenue growth.

About Roper Technologies

Roper Technologies is a constituent of the Nasdaq 100, S&P 500, and Fortune 1000. Roper has a proven, long-term track record of compounding cash flow and shareholder value. The Company operates market leading businesses that design and develop vertical software and technology enabled products for a variety of defensible niche markets. Roper utilizes a disciplined, analytical, and process-driven approach to redeploy its excess capital toward high-quality acquisitions. Additional information about Roper is available on the Company’s website at www.ropertech.com.

About CBORD

CBORD is a leading provider of food and nutrition service management software, integrated security solutions, campus card and cashless systems, and commerce platforms for healthcare, senior living, higher education, and business campuses. With over 10,000 organizations using CBORD solutions globally, CBORD is committed to delivering innovative and comprehensive technology solutions that enhance the daily lives of patients, residents, students, staff and administrators.

About Transact Campus

Transact Campus is a leader in innovative payment, campus ID, and commerce solutions for a connected campus. Transact’s highly configurable, mobile-centric campus technology ecosystem simplifies the user experience across the full spectrum of campus life. Transact’s offerings include integrated solutions for tuition and other student expense payments, multi-purpose campus IDs, and campus commerce. With a long-standing reputation in the education community, Transact proudly serves over 12 million users across more than 1,940 client institutions, has provisioned over 1.9 million mobile credentials, and has enabled hundreds of millions of contactless mobile wallet transactions and purchases.

Contact information:

Investor Relations 941-556-2601 investor-relations@ropertech.com

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Source: Company press release.