Roper Technologies to buy Frontline Education in $3.7 bln deal

Dx & Vx

30/08/2022 14:47

** Shares of industrial solutions and software firm Roper
Technologies Inc  ROP.N  up 1% at $413.36 in early trade
    ** ROP says it will buy Thoma Bravo-owned Frontline
Education in all-cash deal valued at $3.725 bln to bolster its
software business  urn:newsml:reuters.com:*:nL4N3062MB
    ** Says net purchase price that includes a tax benefit is
about $3.375 bln depicting 19x Frontline's estimated FY23 EBITDA
 urn:newsml:reuters.com:*:nGNXmlzJF
    ** ROP to fund the transaction using cash on hand and
revolving credit facility 
    ** Deal expected to close in Q4
    ** YTD, ROP shares down ~17% 

 (Reporting by Priyamvada C in Bengaluru)
 ((Priyamvada.c@thomsonreuters.com))