Roper Technologies to buy software firm Procare for $1.75 bln (updated)

Roper Technologies

25/01/2024 13:44

(Adds deal details in paragraphs 2-3)
       Jan 25 (Reuters) - Industrial technology company Roper
Technologies  ROP.O  said on Thursday it will buy cloud-based
software firm Procare Solutions for $1.75 billion from private
equity firms Warburg Pincus and TA Associates.
    The purchase price includes a tax benefit of $110 million
and has a total enterprise value of $1.86 billion, the companies
said.
    Procare is expected to contribute about $260 million of
revenue for the twelve months ending March 31, 2025, Roper said,
adding that it expects to use its revolving credit facility to
fund the transaction.

 (Reporting by Akash Sriram in Bengaluru; Editing by Shounak
Dasgupta)
 ((Akash.Sriram@thomsonreuters.com; On X as @HoodieOnVeshti;
+91-74116-87774))