ST Engineering to buy Roper's TransCore business for $2.68 bln cash (updated)

Singapore Technologies Engineering

03/10/2021 05:49

(Adds details from the statement)
    Oct 3 (Reuters) - U.S.-based Roper Technologies Inc  ROP.N 
said on Sunday it has agreed to sell its TransCore business to
Singapore Technologies Engineering Ltd  STEG.SI  for $2.68
billion.
    ST Engineering, a technology, defense and engineering group,
will buy TransCore in cash, Roper said in a statement.
    "With the addition of TransCore, ST Engineering will be
uniquely positioned as a sustainable Smart Mobility market
leader, underpinned by our strengths in technology and
innovation," Vincent Chong, chief executive of ST Engineering
said in the statement.
    Headquartered in Nashville, Tennessee, TransCore provides
engineering solutions for safer travel on roads, bridges,
tunnels and highways.
    Roper said it will retain its DAT and Loadlink network
software businesses, which it acquired together with TransCore
in 2004.
    Evercore and BofA Securities were financial advisers to
Roper on the deal, which is expected to close in the first
quarter of 2022, the statement said.
 

 (Reporting by Aakriti Bhalla in Bengaluru; Editing by William
Mallard)
 ((Aakriti.Bhalla@thomsonreuters.com;))