- Acquisition Announcement: Roper Technologies has agreed to acquire Transact Campus, a US-based provider of campus technology and payment solutions, for a net purchase price of $1.6 billion.
- Transaction Details: The purchase price includes a $100 million tax benefit and represents approximately 14 times the projected operating profit for 2025.
- Integration with CBORD: After the acquisition is completed this quarter, Transact will be merged with Roper’s CBORD business, which offers security, food service, and campus commerce solutions.
- Leadership Structure: Nancy Langer, CEO of Transact, will lead the combined entity, while Dan Park, CEO of CBORD, will become the chief operating officer (COO).
- Revenue Projections: Roper expects Transact to generate around $325 million in revenue and $105 million in EBITDA by 2025.
- Background: Transact was acquired from Blackboard by Reverence Capital Partners in 2019. The firm also invested $200 million in New York Community Bancorp earlier this year.
- Roper’s Perspective: Neil Hunn, President and CEO of Roper Technologies, stated that Transact meets all their acquisition criteria, including mission-critical solutions, strong customer retention, and excellent cash conversion.
- Roper Technologies Overview: Based in Florida, Roper Technologies owns a portfolio of brands specializing in vertical software and technology-enabled products across various niche markets such as legal, medical, insurance, and financial services.
